Presentation and definition of the crypto-currency Ripple (XRP)

Presentation and definition of the crypto-currency Ripple (XRP)

  • Name of the crypto-currency : Ripple
  • Abbreviation : XRP
  • Where to buy Ripple ? Binance, BitBay, Bitpanda
  • Date of creation : 2012
  • White paper of Ripple
  • Web Site

What is the Ripple ?

The Ripple is a network of real-time gross settlement (RTGS), which is based on an internet protocol open-source and validation by consensus. Unlike other crypto-currencies are known, the process not only takes into account its own currency, but also allows the use of any currency, fiduciary, or virtual. Long remained in the shadow of Bitcoin, it is however become by 2017 the virtual currency the most powerful of the year.

The Ripple, a currency hybrid

Independent servers

This is where the difference lies between the Ripple and other currencies cryptographic : they are independent servers that ensure the security of transactions. These servers may belong to anyone — and some banks may therefore hold. This is what makes this crypto-currency is incomparable with its competitors.

The validation system

The validation of each transaction is carried out by consensus. It is a voting system between the independent validators that compare continuously their transaction statements.

The Ripple : practical information

The currency XRP is divisible up to 6 decimals, the smallest unit being called a “drop” (1 million drops = 1 XRP ). All XRP are ” pre-mined “, it means that there is more opportunity to create new tokens. 100 billion XRP were created at the time of the launch of Ripple.