Steemitcryptoacademy | home work submission post for yohan2on

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Thanks steemit team for the opportunity to write again in the steemit crypto academy after the brake. I’m writing in response to the task given by professor @yohan2on to write about altcoin .

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professor - yohan2on

weak - week 1 season 2

altcoin chosen- ripple (XRP )

things to cover

• what is ripple
• what is xrp
• does ripple have block chain
• ripple network

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Before I start let me throw a recap on what alit coin is Alt coin is said to be coins that came into existence after the success of Bitcoin. Any coin that is not Bitcoin is known as alitcoin example are xrp, etherium, bnb, tron litcoin etc..

WHAT IS RIPPLE

Some newbies in the crypto run mistake ripple and xrp, in this post you will have a clear understanding of ripple and xrp

ripple : it is a company in San Francisco and holder of crypto which is xrp. Ripple is s successful platform because its been used by so many Financial instructions to authorize payments for people in different part of the world. Ripple was founded in 2012 , it was formally called opencoin and was changed to ripple lab as of 2015. Xrapid is also own by ripple it is to serve as a solution to enable the conversion of fiat to xrp speedily and at a low cost.

The ripple goal is to build on the decentralized digital currency approach set by Bitcoin and do for money what the internet did for all other forms of information.

XRP

Xrp is the main digital currency not ripple it is independent, its transactions are smooth on ripple network. Xrp is like the technology that is backing the cryptocurrency also act as the block chain which the token reside . Xrp authorize people to send money digitally.

It’s a Bitcoin upgrade, it came into existence or was created because it focus on solving high transaction and slow transaction speed that is related with digital coin. Xrp transaction speed is so fast it can process that within 4 seconds while Bitcoin can take up to minutes xrp is capable of handling 1500 transaction per seconds.

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DIFFERENCE BETWEEN RIPPLE AND XRP

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Their are so many differences between them but we look at major once. The difference will be looked at in terms of aim, and usage

Ripple is a company privately owned and is based in San Francisco in U.S they have office in New York , London, singer pore etc..

While XRP is just a virtual currency, its independent and its powering the ripple network.

In terms of aim

Ripple company is concern on how to provide solutions to send money easily and at a cheap rate across the world.

While xrp solicit to perform as overpass currency to facilitate payments in different fiat all over the world.

In terms of usage

Ripple evolve and provide products that can be used in financial industry especially banks.

While xrp since its a cryptokannon anyone can use it according to its desire and purpose, one can use it for making payments etc..

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DOES RIPPLE HAVE A BLOCK CHAIN

This question has emerged and asked by many people just as Bitcoin is based on blockchain technology. Ripple does not have a block chain because of that many people wonder how it verify its transaction ripple use a distributed consensus ledger utilizing a network of confirming server and crypto tokens known as xrp.

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ripple net

Ripple net is a network provided for institutional payment like banks and money services businesses use to his solution to provide amicable experience when sending money across the globe. The ecosystem include the following

• xcurrent
• xrapid
• xvia

The xcurrent is responsible for ripples bank to bank globally settlements solutions the xrapid banks is responsible for liquidity,solving the problem for payment providers example the conversion of fiat to USD-EUR etc.. and xvia is the one that send payment across different networks

Note : xrp can be used to increase liquidity by xcurrent and xvia companies if they wish to do so .it’s only xrapid I hat requires the use of xrp.

Also note that ripple can not be mined like other altcoin that not how it was designed.

Ripple is been supported by various banks which are as follows UBS, NBAD, YES BANK, ASIS BANK,UNION CREDIT etc..

The coin market cap of xrp

^{coin market cap screenshot}

The above screenshot shows is the current price of xrp which is $1.67 and has reached 1.96 high before. It is ranked as #4 in the coin market cap. with a 24-hour trading volume of $30,743,180,880 USD. XRP is down 5.37% in the last 24 hours. with a live market cap of $72,902,778,990 USD. It has a circulating supply of 45,404,028,640 XRP coins and a max. supply of 100,000,000,000 XRP coins.

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thanks for reading through I believe I have been able to give major datail about xrp as a cryptocurrency thanks!!