The reason why you can't Mining Ripple (also XRP)

in #ripple6 years ago (edited)

How Do I Mine Ripple also known as XRP?

well, the simple answer to the question is you can't. Yes, you heard right no one can mine XRP i.e, Ripple. As much as I know many coins in the crypto world aren't mineable. Here is the comparison of two lists from CoinMarketCap between all coins vs mineable coins :

all-coins-vs.-mineable.png

why CryptoCurrency like Ripple also know as XRP Can't be Mined?
mining is extremely important in the case of complete localized cryptocurrencies, like bitcoin. By remaining open to anyone with the necessary skills and resources to mine, Bitcoin theoretically prevents any single entity from controlling Blockchain.

Different from Bitcoin, XRP is directly issued by the ripple company rather than being mined into existence. The only way to get ripple is either buy it or earn it.

Ripples Pros & Cons :

Pros:

  1. Ripple transactions are very quick, conforming within seconds.
  2. In one second 50000 Ripple can be transactions.
  3. Ripple network does not need any significance electric consumption.

Cons:

  1. The system can be altered or shut down by the state.
  2. transaction can be reversed or frozen.

Hope you like my article for more follow me.

Sort:  

Congratulations @annusaroj! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.20
TRX 0.12
JST 0.028
BTC 64251.91
ETH 3494.19
USDT 1.00
SBD 2.54