XRP
Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.
Ripple was originally founded by a single company, Ripple Labs, and continues to be backed by it, rather than the larger network of developers that continue bitcoin’s development. It also doesn’t have a fluctuating amount of its currency in existence. Where bitcoin has a continually growing pool with an eventual maximum, and Ethereum theoretically has no limit, Ripple was created with all of its 100 billion XRP tokens right out of the gate. That number is maintained with no mining and most of the tokens are owned and held by Ripple Labs itself — around 60 billion at the latest count.
Even at the recently reduced value of around half a dollar per XRP, that means Ripple Labs is currently sitting on around $20 billion worth of the cryptocurrency (note: Ripple’s price crashed hard recently, and may be worth far less than $60 billion by time you read this). It holds 55 billion XRP in an escrow account, which allows it to sell up to a billion per month if it so chooses in order to fund new projects and acquisitions. Selling such an amount would likely have a drastic effect on the cryptocurrency’s value, and isn’t something Ripple Labs plans to do anytime soon.
In actuality, Ripple Labs is looking to leverage the technology behind XRP to allow for faster banking transactions around the world. While Bitcoin and other cryptocurrencies are built on the idea of separating financial transactions from the financial organizations of traditional currencies, Ripple is almost the opposite in every sense.
XRP by Ripple price can be found on this page alongside the market capitalization and additional stats.
Cryptocoins News / The Cointelegraph - 3 years ago
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Cryptocoins News / The Cointelegraph - 3 years ago
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Cryptocoins News / The Cointelegraph - 3 years ago
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Cryptocoins News / The Cointelegraph - 3 years ago
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Cryptocoins News / The Cointelegraph - 3 years ago
XRP price bulls watch out! The popular Head and Shoulder pattern is statistically among the most accurate trend indicators. Ripple blockchain’s native token, XRP, coul...
Cryptocoins Exchanges / Binance - 3 years ago
I wo during if I can't swap LTC or XRP for BNB using Binance I know they have LTC/BNB markets, so does that mean I can swap them ? submitted by /u/Sparethrowaway111 [link] [comments]
Cryptocoins News / The Cointelegraph - 3 years ago
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Cryptocoins News / The Cointelegraph - 3 years ago
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Cryptocoins Exchanges / Binance - 3 years ago
My older brother told about it and he made good proft from it because he got it a while ago should i get it now or wait for it to dip more or is there better coins to invest in i have little money so anything that might grow in the future so i can re...
Cryptocoins News / The Cointelegraph - 3 years ago
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Cryptocoins Exchanges / Binance - 3 years ago
Just installed binance, I have recieved my xrp from luno (malaysia) And i tried to buy some altcoins but i cant? my wallet is in "spot" and i cant convert it to btc Can someone walk me through this ? thanks guys submitted by /...
Cryptocoins News / The Cointelegraph - 3 years ago
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by COINS NEWS - 3 years ago
A sub that I unsubscribed weeks ago. Probably just a few days after I had subscribed it. I don't think I ever posted in that sub either. I suspect the reason for the permanently ban is from replying to a thread in here about the censorship going...
Cryptocoins News / The Cointelegraph - 3 years ago
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by COINS NEWS - 3 years ago
I keep a close eye on r/XRP and how much moderating they do and I still continue to see comments being removed randomly all the time. I've even messaged some of these people who've been removed to find out they had no idea. Most of these comm...
Cryptocoins News / The Cointelegraph - 3 years ago
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Cryptocoins News / The Cointelegraph - 3 years ago
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