Crypto Academy Week 9 - Homework Post for Professor @yohan2on on Looking beyond the Bitcoin Homework by @kelechisamuel

It's an amazing day and i hope we are all having a great day.
this is my homework post as regarding the lecture for professor @yohan2on in this homework post i would be discussing on Ripple

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RIPPLE
The utility token , Ripple could be explained as a currency exchange and an open source remittance network responsible for ingress to seamless transfer of money in any foreign currency, be it National currencies like Pound Sterling ,Euros ,or even crypto coins too like Bitcoin or Litecoin.

In pursue of more light on this system ,we could consider a monetary transfer system where the actual transaction owners on the ends do not prefer to use their middle men unlike other crypto like Bitcoin.

Ripple uses a medium known as gateway to serve as a link in the trust chain between the two parties wanting to make the transaction and receives and sends currencies to public addresses over the Ripple network.

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Comparison between bitcoin and ripple

i would like to give a layman comparison between Bitcoin and ripple using an example as narrated below

A Bitcoin example could be like Samuel who needs to send 550000 Ugandan shillings to Jose who lives in another state ,He gives Jumbo his state negotiator the money with a wordcode required of Jose to pronounce before he receives the money ,Ken on the other hand who is Jose's negotiator alerts Jose of the transaction conditions and funds involved and wordcode meaning that if Jose gives Ken the right wordcode, Ken gives him 550000 Ugandan shillings coming from Ken's account which could be added to Jumbo's debts to him which would be paid on a particular date or or make counter transactions which would balance the debt .

This example on the other hand would be unlike ripple who involves no agent as such instead would involve a direct blood who would be an almost exact person to run the transactions instead of the agents

It's true the ripple network is more complex than this but this is an understanding of what it reflects
Concordially related to the lessons we see Ripple having the utility protocol features as the Ripple ledger now employs the native crypto currency ,XRP which is used for performance of currency transactions on the ripple network or any other transactions at all in the ripple ledger.

From this we could derive that the role of XRP in Ripple network would be a determinant of Ripple valuation in the market .

Proper understanding of the lesson still potrays ripple as being one of the solutions to simple payments which couldn't have ordinarily been done via Bitcoin which is quite enormous in value.

Understandably too , ripple acts as a bridge between Fiat currencies ie it works with so many digital exchanges to help transfer values across borders quickly for example a Zambian trader who wants to pay a Nigerian trader would have to pre fund an account in Nigeria or go through an international exchanger which are relatively expensive and slow but with XRP the payments are made instantly and on demand causing a faster and cheaper settlement

Finally ripple showcases a strong utility token attribute as to the use of XRP which represents transfer of values across the network.

Ripple Market Analysis

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As we can all see from the image above, there is a downward arrow, if we have studied ripple for some time, it took a quantum leap but there is a medium tendency that ripple will fall averagely
Just my advice from speculations, act smart and wise.

Advantages of Ripple

1) Ripple helps in the overseeing of simple payments which could ordinarily be hard to sort out with the use of ernomous coins like Bitcoin.

2) Ripple generation is relatively easier and takes lesser time in contrast to Bitcoin that takes much more time to do so.

3) Its nature makes it easier to work with financial institution ie day to day sales and performing transactions easily and quickly

Disadvantages of Ripple

1) Ripple has no definite issuance of a market cap unlike most coins.

2) Like we learnt about the stable coins ripple isn't a stable coin and can't hust be called a good store of value.

3) The rigorous steps involved and identification processes in the opening of a wallet could delay transactionary processes or change trading decisions

Lastly, Ripple is a great coin and just like Prof @yohan2on said some coins are worth the look

thank you all for going through my post

cc
@steemcurator01
@steemcurator02
@yohan2on