Crypto Academy Week 9 - Homework Post for @yohan2on | Ripple (XRP)
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Introduction
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Ripple (XRP) is a platform for cryptocurrency exchange. The currency traded in Ripple coin is known as XRP and transfer times are immediate. XRP can be exchanged for most other currencies with its unique selling proposition being the avoidance of fees and wait times often associated with banks. Ripple plateform is a market exchange that also uses a peer to peer (P2P) created to work with the aid of the internet for fast, direct and secure way for payment. Ripple as a protocol is a system of the real time gross settlements (RTGS), exchange and money transfer system.
A BRIEF HISTORY OF RIPPLE
According to history ripple was conceived by Jed McCaleb and was built by Arthur Britto and David Schwartz who then approached Ryan Fugger who had debuted in 2005 as a financial service to provide secure payment options to members of an online community via a global network. But ripple was first implemented by Ryan Fugger as a ripple coin in 2004. Ripple is the third-largest cryptocurrency by market cap, following Bitcoin and Ethereum. Fugger had developed a system called OpenCoin which would transform into Ripple. Ripple is more known for its digital payment protocol than its cryptocurrency, XRP. Ripple operates on an open-source and peer-to-peer decentralized platform that allows for a seamless transfer of money in any form, whether USD, Yen, litecoin, or bitcoin.
How ripple works
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From record, Ripple operates on an open source and peer to peer decentralized platform that allows for a seamless transfer of money in any form, whether USD, Yen, litecoin, or bitcoin.
The Ripple network does not run with a proof-of-work system like bitcoin or a proof-of-stake system like Nxt.
XRP can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies quickly and efficiently. Instead, transactions rely on a consensus protocol in order to validate account balances and transactions on the system. The consensus works to improve the integrity of the system by preventing double-spending.
Importance of Ripple
1. Powered by mathematical algorithms:
Ripple coin is powered by mathematical algorithms and obeys fixed rules that can never be changed. That’s what makes it secure and reliable, because no person or organization controls XRP, it cannot be created, falsified, or duplicated. All payments are direct and peer-to-peer. It can be used without any third-parties, intermediaries, or other institutions.
2. Ripple (XRP) is a peer to peer powered cryptocurrency designed to work seamlessly with the Internet to allow a fast, direct and secure way to send payments on the web.
3. Ripple is decentralized
Difference between Ripple and XRP
Ripple: this does not refer to a blockchain network with a native cryptocurrency asset.
And according to market cap Ripple is the third largest cryptocurrency following Bitcoin and Ethereum. Ripple began selling XRP in 2012. Ripple is more known for its digital payment protocol than its cryptocurrency, XRP.
While XRP: this is a digital currency which is issued and partly managed by Ripple Inc. a payment solutions company that also manages the RippleNet cross-border payment network. Also XRP is a digital asset built for payments. It is the native digital asset on the XRP Ledger an open source, permissionless and decentralized blockchain technology that can settle transactions in 3 to 5 seconds.
Screenshot of price line
Conclusion
Ripple is a coin that generate within 3 to 5 seconds and it's payment is reliable. And Ripple is a platform for cryptocurrency exchange.
Thanks for going through.
@yohan2on
Unfortunately @chiwill, your article contains plagiarized content
Rating 0/10
One of sources-https://top5cryptos.com/the-price-of-ripple/
The Steemit Crypto Academy community does not allow these practices. On the contrary, our goal is to encourage you to publish writing based on your own experience (or as per the mission requirements). Any spam/plagiarism/spun action reduces PoB's idea of rewarding good content.
Thank you.
Cc: -@endingplagiarism @yohan2on @sapwood
Thanks for that discovery.
Hey @chiwill
Plagiarism is NOT Tolerated on Steemit
Am sorry for that professor @yohan2on and professor @kouba01. I wish to improve in my next research. My apologies.
This content appears to be plagiarised as indicated by @kouba01.
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