Ripple XRPis a relatively new payment protocol and crypto currency that that was first developed by Canadian web developer Ryan Fugger and called RipplePay.com. In 2011 they developed a new digital version which was designed to be quicker to compete with Bit coin so rather than using the mining process used by Bitcoin transactions were verified by consensus. In September 2012 Rippleplay .com was changed to OpenCoin by Ripple labs based in San Francisco California. OpenCoin changed the payment Protocal to (RTXP) Ripple Transaction Protocol which was based on the original concepts developed by Ryan Fugger but with the Ripple Protocol making a faster instant direct currency transfer between two Parties. With OpenCoin any currency could be exchanged whether it be Gold, USD or even Air Miles.
Between 2012 to 2017 Ripple has become stronger and stronger with banks getting involved, and transfer services like Western Union. In 2014 alone the XRP price value rose over 200%, then in 20015 Western Union planned to Experiment with Ripple. Also the Common wealth Bank of Australia to follow, this gave Ripple a massive boost. To date more than 100 banks and companies have partnered or experimented with Ripple including the Royal Bank Of Scotland, Sony Bank, the Canadian Imperial Bank Of Commerce and the National Bank Of Abu Dhabi.
RIPPLE XRP SUMMARY
XRP Ripple is a RTGS (real time gross settlement system) Ripple develops global payment solutions for financial institutes. Ripple connects banks, digital asset exchanges, payment providers and corporates all via Ripple Net. Ripple also provides a digital currency which is currently the fourth largest cryptocurrency in the market. Ripple is used in the Ripple payment network to pay for transaction fees, to make transitions and is necessary to be kept in wallet addresses that use the network as a reserve. A transaction using Ripple can take less than four seconds and with Ripple it can make over 1000 transactions per second. .Ripple has been one of the best crypto currencies to date and with it is the leading blockchain technology provider. It has with over 75 banks and financial intuitions including Santander, UniCredit and UBS using Ripples payment protocol and crypto currency.
Pros to Ripple XRP
- Ripple is one of that largest crypto currencies on the market
- Ripple XRP is one of the fastest growing crypto currencies
- Stability with over 75 Banks and Financial institutions using Ripple
- One of the cheapest to purchase at the time of writing the review
- Fast transactions
Cons to Ripple XRP
- Risk of value decreasing
- Maybe a slight delay if a malicious attack is suspected, or if the network Is lagging
Ripple XRP Future
Going by how Ripple has grown since its release it is very promising and it is defiantly one of the top contenders in the Crypto currency market. Also the fact that big banks and financial institutions are getting involved with Ripple I would say if they are committed then Ripple defiantly has a future. For more information on Ripple XRP check out their official website here https:www.ripple.com
So should you sit on your Ripple?
I would say that at the moment the popularity of Ripple with the financial sector and the fact it hasn’t stopped growing, combined with the fact that (at the time of this review) it is at such a low price that it would be a no brainer to invest in Ripple.