Ripple’s crypto asset is now in the third position in popularity after Bitcoin and Ethereum. This digital asset, which was discovered by Chris Larsen and Brad Garlinghouse in 2012, appears with a different system from Bitcoin.
Initially, Ripple was designed as an everyday payment system; so it’s faster than Bitcoin. The Ripple Network has now been updated to increase speed levels that can accommodate 50,000 transactions per second. The main purpose of Ripple’s creation was actually as a payment tool based on internet protocols, such as HTTP and TCP/IP which are used to manage websites and data, but are specifically designed to send and receive payments.
Apart from being a digital asset, in some countries Ripple also functions as a medium of exchange for fiat currencies and other digital assets as well as a payment gateway. Ripple/XRP uses a ledger managed by an independent network to validate servers that continuously compare transaction history or records.
Launched in 2021, XRP Ledger is an open-source, permissionless, decentralized technology. XRP Ledger benefits include low fees ($0.0002 for transactions), speed (complete transactions in 3-5 seconds), scalability (1,500 transactions per second) and green attributes (carbon neutral and energy efficient). XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.
Ripple/XRP is independent of the strength of the proof-of-work used by Bitcoin. When this video was made, there are already about 43 billion ripples circulating in the world, and will be proclaimed to reach 99 billion ripples! Unlike bitcoin, ripple/XRP cannot be obtained through mining, but Indodax is here to be a place for traders who want to have ripple quickly and easily! Want to have ripples? Let’s buy now at indodax.com!