Ripple is also known as the “Bank Bitcoin.” The currency Ripple (XRP) can serve as a so-called “bridge currency” in trading with other currencies. The founders of Ripple generated 100 billion XRP and transferred 80 billion XRP to the company Ripple Labs.
Ripple Labs planned to distribute $ 55 billion of XRP to users of the ripple network and retain $ 25 billion. In total, 7.2 billion ripple (XRP) have been distributed to various projects so far. Further generation of ripple such as by mining, is not provided.
Ripple is currently, as of July 2018, the third largest cryptocurrency by market capitalization. Behind Ripple is certainly more, because with the help of Blockchain technology international financial transactions are to be simplified and accelerated. XRP Ripple Coins can primarily be managed with the Ripple online wallet.
Benefits of Ripple
- The ripple protocol is an open standard that can connect existing payment networks
- Ripple offers fast transactions (usually within a few seconds).
- Ripple is tamper-proof.
- Ripple, in its final stage of development, can act as a translator between other currencies
Why is there ripple?
Ripple was developed primarily for the optimization of payments using blockchain technology. This is especially interesting for banks, which also explains why some large financial sector companies in India and Japan already want to use or use ripple.
Ripple is currently the bank’s best friend when it comes to cryptocurrency and blockchain. That our banking system will disappear overnight is very unlikely. While we are constantly advocating that cryptocurrencies like Bitcoin will and will be able to replace the normal money, but currently one is still just on the “old money” dependent.
However, Ripple offers banks the best opportunities to significantly streamline internal transaction processes and thus actually save time and costs for us through blockchain technology.
Invest in Ripple
An investment in Ripple is tempting due to the low price of currently € 0.20. Nevertheless, one should not forget that currently the majority of the ripple coins are still in the possession of the company, which actually contradicts the approach of decentralization. Furthermore, ripple with 100 billion coins, as opposed to 21 million bitcoins (until 2030), of course, a broad mass product. An increase to the current Bitcoin rates is very unlikely.
In 2015, Ripple has attracted 55 million venture capital firms and some big names including Google. The ability to handle payment transactions easily, quickly and securely seems to be of some interest to the Big Payer. Ripple does not have a good reputation within the crypto scene, as decentralization is not the main focus and the company Ripple owns most of the coins themselves.
To buy xrp or to invest in ripple is therefore strictly technical in terms of both a clear no and a clear yes to answer.