Steemit Crypto Academy: Homework Post for @yohan2on | Altcoins [XRP]

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In this post I will write about Altcoins, the homework/task given by professor @yohan2on

Task/homework of professor	@yohan2on
Week 1	Season 2
Altcoin Chosen:	XRP

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Ripple is one of the many crypto companies in the world. The company, which was built in the United States, aims to provide a more efficient means of payment as a cross-border payment instrument in the financial industry and particularly in the banking sector. This is due to transaction fees and times.

XRP has a function to facilitate transactions on the Ripple network. To talk about the terms Ripple and XRP are often considered the same thing, but technically Ripple is a platform for payments and XRP is a digital asset that works independently and separately from Ripple. XRP is also a source of liquidity for the Ripple network.

How was XRP created?

In 2004 the Ripple company appeared under the name Ripplepay. As the goal is to be a means of fast and secure financial transactions around the world with lower costs than payment using SWIFT. At first Ripplepay was only used to help individuals to expand to friends and family.

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In 2012, a technology company called Ripplelabs took over Ripplepay and made changes to the overall protocol structure. In this new system, updates are made to include features of cash and digital systems by releasing their new cryptocurrency. XRP is a digital currency that is independent and not controlled by any particular person or entity. This is a cryptocurrency that can be used by anyone, including Ripple. XRP also has a community-based ledger.

This was true in early 2011 when at that time Arthur Britto, Jed McCaleb and David Schwartz were forming a team to create the XRP ledger where this ledger is called the blockchai where XRP tokens can live.

Prices for XRP and other crypto assets are determined by the supply and demand at the time of the buyer who wants a particular currency and the seller who owns the crypto asset.

Final Thought

As one of the cryptocurrencies that is currently very much in demand by many people, the demand will continue to grow. Like XRP, which is predicted to be able to beat the volume based of other coins and demand continues to soar.

On the basis of this demand, the price to be given by the market will increase. In the near future, XRP will also conduct trials with the SEC in the United States. If XRP wins this, the volume and value of this digital coin will increase. Maybe.