With an increase in the value of 35,000% in 2017 and a market capitalization of more than $ 118 billion, Ripple has been the subject of discussion among analysts and investors. But what is the pulsation? Is this similar to other crypto conversions? Why has it been burning lately? Continue reading to get answers to these questions.
1. What is ripple?
Ripple is a payment solutions company founded by Chris Larsen and Jed McCaleb. Transaction protocol Ripple Transaction Protocol (RTXP) contains a currency encryption XRP. Ripple says it offers faster, more reliable and affordable transaction solutions for financial institutions. The company has created one hundred billion XRP, and currently owns 61% of the coins. The current plan is to free one billion coins per month.
2. Differences between pulsation and bitcoyne
Andbitcoin, and pulsation: this cryptography, using the chain of technology blocks. But there is a fundamental difference between them: unlike bitcoins, Ripple cannot be extracted. The currency is not configured as a mobile currency and its use is linked to the Ripple network.
Both bitcoyne and Ripple use verification nodes to verify records. Bitcoin has around 10,000 trusted nodes, and Ripple has only five. However, the company plans to add 11 more in the next 18 months. The five checking nodes are managed by Ripple. XRP was criticized for the lack of independent trust validators. XRP Ledger is available to everyone, so anyone can download it and become a validator. Many companies use their own nodes in the Ripple network.
3. The reasons for the recent increase in fluctuation prices
The recent price increase of XRP has much in common with the expected use of the currency by financial institutions and the investment of investor investors. Ripple has been successful in obtaining banks as customers for its other products. Ripple’s XCurrent is preferred by financial institutions, as it offers real-time communication and quick correction, which reduces delays in banking transactions. The company plans to introduce a new xRapid product, which includes XRP. They see the new product as an opportunity to attract banks to use XRP. Investors see the potential of the currency as a financial means used by banks around the world.
The pulsation or, more precisely, the XRP, is an ascending cryptographic currency. This is different from the leading digital currency, Bitcoin, because its supply is controlled by the founding company. Ripple assumes obligations of the banks that accept it in the future. It can be assumed that the recent increase in the value of Ripple will cause more controversy about its pros and cons.
When you plan to make your next purchase, I want you to think about the effect of “Made in the US”. Buying a product that is manufactured in the United States is not only good for our economy in general, but the effect of “ripple” can lead to the addition of extra money to your wallet.