Hey Guys..!!
Meet again with me Wahyu Nahrul
It's been a long time since I've been waiting for the return of classes at Steemit Crypto Academy. As we know now Steemit Crypto Academy has entered a new season with the addition of several new professors who will teach us about the world of cryptocurrency. Previously, I congratulated the professor who was chosen this season 😁.

To start the homework for this season, I will take part in the assignment of one of our professors @yohan2on, who this week discusses altcoins which you can read here.

There are several altcoins given by our professors for us to discuss as homework this time, which is: Litecoin (LTC), Ripple (XRP), Binance coin (BNB). I will take Ripple (XRP) as the main topic in the discussion of altcoins this time.

But first, I will briefly explain what Altcoins are.

What Is Altcoins?

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Altcoins is a cryptocurrency that appeared after the name Bitcoin which appeared as the world's first cryptocurrency and became famous among various people in the world. With the presence of Bitcoin which can provide a digital transaction experience, which is a very new thing in the world of finance, many people are starting to be interested in this cryptocurrency.

However, if we look back at all the things that Bitcoin provides, we will find some things that are shortcomings of Bitcoin in serving its users in transactions, this is what makes Altcoins come up with various new features that can cover the various shortcomings of Bitcoin and make updates that are nicer and fresher from every feature that is already in Bitcoin.

If we look at now there are a lot of Altcoins in the cryptocurrency world. This shows how enthusiastic investors are into cryptocurrency. The number of Altcoins to date is around 5000 and will continue to grow over time because indeed every day there are always new Altcoins made with various features offered to meet various requests from cryptocurrency traders and investors.

Ripple (XRP)

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Ripple is a cryptocurrency created by Ripple Labs Inc in 2012 and has been around for about 9 years, this makes Ripple one of the oldest cryptocurrencies out of thousands of other cryptocurrencies. The purpose of creating the Ripple coin is to create a feature that makes it possible to send money globally using the Blockchain system as the foundation.

Unlike other Altcoins like Ethereum, etc. Ripple is not altcoins that use a decentralized Blockchain system. The blockchain system used by XRP is blockchain centralized, which means that XRP coins cannot be owned by mining, but must buy them on an exchange that provides XRP to be traded. This also has an impact on the XRP price which will remain stable and even rise over time.

If we look at the current price of XRP, according to CoinGecko the price of the XRP coin is around $1.62.

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Just like Bitcoin, the total supply of XRP coins has been determined from the start, which is 100 billion XRP with the total coins currently circulating in the market of 45,973,318,056 XRP.

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What Is The Specialty Of XRP?

Ripple, which focuses on money transactions in global scope, has attracted many partners to work together on global money transactions. Currently, there are more than 100 financial institutions around the world that have collaborated with Ripple to solve various financial transaction problems.

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As we know that when sending money abroad in a conventional way, it will incur very expensive fees, and very many people complain about this. With the existence of Ripple, this can be resolved, because Ripple already uses a Blockchain system that works virtually and does not require a lot of fees to make every transaction. This makes many financial institutions in the world very interested in using Ripple as their transaction tool.

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Then the next thing that becomes a scourge in global remittances is the very slow system. If we conventionally send money, it will take several days for the money we send to arrive at the destination address. However, it will be very different if we use Ripple as a money transfer tool, every transaction we make will be completed in just "4 seconds".

Yep, you read that right, only 4 seconds. This is very far from the conventional method which takes several days to send money. This is what makes Ripple called a coin with a very fast Blockchain system, it even outperforms other Blockchain systems such as Bitcoin, Ethereum, and Litecoin.

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XRP is also able to handle very many transactions in 1 second, if we look at the official XRP website, it will be shown that XRP can consistently handle 1,500 transactions per second and this can be done every day without any time off. This makes XRP an Altcoin that can beat its biggest competitors, namely Bitcoin which is only able to handle 3-6 transactions per second, and Ethereum which is only able to handle 15 transactions per second. This has an impact on the XRP network speed, which will not experience transaction delays or even experience system crashes due to many transactions in 1 second.

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Where Can I Get XRP?

As I explained above, the way to get XRP coins is to buy them on the exchanges that provide XRP to their market. Until now, there have been many exchanges around the world that have included XRP in their buying and selling market.

When this article was written, the exchange with the largest supply of XRP coins was held by Binance with the percentage of the most XRP coins on the exchange of 54.41%, which means that more than half of the XRP supply that has been circulating on all existing exchanges is on Binance, then followed by other exchanges. such as Huobi at 8.38%, Bitstamp at 5.68%, Bitrue at 4.71%, HitBTC at 4.05%, and the rest on other exchanges.

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There are already 20 exchanges that have provided XRP in the buying and selling market. And the types of markets also vary, starting from XRP/BTC, XRP/USD, XRP/USDT, XRP/EUR, XRP/IDR, and many other types of markets offered. You can see the market list for the XRP coin in the image below.

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Last Word

That's my explanation of an altcoin called Ripple (XRP) with all its uniqueness and strength. I can conclude that XRP is an altcoin that is included in the oldest altcoin that is able to attract cooperation with many financial institutions in various countries, this is very inversely proportional to most other cryptocurrencies that are always shunned by many financial institutions because they are considered something that will give damage to the financial system in the world.

XRP is also able to provide experience in very fast transaction speeds so that it is able to overcome various problems in terms of financial transactions on a global scale.

I apologize if there are still many mistakes that you can get when reading my explanation earlier, I would be very grateful if you told me in the comments column below.

Thank you for reading my blog, hope it will be useful for all of you. 😁

CC:

@yohan2on
@steemitblog
@steemcurator01
@steemcurator02