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Published by Chre Majano — 6-4-2017 at 10:08 AM UTC
Why should I pay attention to buying Ripple and XRP?
Ripple is the name of a p2p payment network with its own flexible digital currency, the XRP. Ripples or XRPs provide the network of liquidity required within complex financial transactions and serves as a bridging currency for simplifying complex international payments between primarily financial institutions. Financial institutions such as investment banks will save a lot of costs by using the Ripple network. Ripple aims to open the closed financial networks of payment cards, banks, Paypal, Skrill and other financial institutions and eliminate all sorts of unnecessary costs such as currency sales, waiting times and restrictions and connect all key points to the Ripple network. The Ripple Network with the XRP is a much better alternative to Bitcoin.
Ripple is technically better set up than Bitcoin on many points and is also a bit similar to Ethereum. The Ripple and Ethereum block chains are then most used by major financial institutions and smart banks. They will use the Ripple network and XRP more and more for faster, easier and cheaper completion of international payments.
Indeed, all 15 of the top 50 major international banks already use the Ripple network. In addition, a deflationary monetary policy will be implemented and a final XRP limit will be introduced. This makes Ripple a very interesting investment! You can buy XRP the easiest and most affordable with bitcoins at Changelly.
What are the differences between Ripple, Bitcoin and Ethereum?
Ripple's currency XRP looks like Bitcoin at first glance. It is peer-to-peer decentralized money, where all transactions are stored in a general ledger. This is called the Ripple Consensus Ledger. It is initially the intention that Ripple Bitcoin will complement, especially when it comes to the easy switching of fiat money to cryptocurrency. With the help of Ripple, the Bitcoin ecosystem can turn more bridges into the mainstream financial world and other currencies. Additionally, you do not have to wait for a number of network and transaction confirmations, you can instantly perform peer-to-peer transactions with Ripple.
In practice, this could mean that a bank account can be linked to the Ripple network. Euro's can be immediately converted to XRP without currency conversion costs and the XRPs can then be immediately converted to bitcoins using a cryptocurrency exchange. In this specific case, the Ripple network connects a bank with the Bitcoin network and uses XRP as a bridging digital trap to save costs and time. It is highly unlikely that the banks will agree with the implementation of this option. There is a significant difference in the way the Ripple network is being developed. Ripple is a much more centralized fintech project led by a company (Ripple Labs) with many major banks as venture capitalists. The edition of XRP is also issued centrally.
Bitcoin is really autonomous and much more anarchistic and decentralized than Ripple. Technologically, there are other important differences. Ripple is much better equipped to be used by and for financial institutions as an effective cost-cutting transaction and can easily handle huge volumes of transactions. Ripple Labs itself has the ambition to become the world reserve of all the cryptocurrencies, striking too many bridges to the proven, censor-free and extremely secure Bitcoin network is not a slim idea. Looking further at Ethereum, it is primarily a proven development platform for smart contracts, based on which new decentralized block-chain applications are being developed. Major banks invest in Ethereum-based projects to test all kinds of block-chain applications.
Major banks invest in Ripple-based projects for testing centralized cryptocurrency for optimizing their own work; In addition, it provides an answer to the danger that Bitcoin represents: a complete banking disintegration, a global P2P payment network without banks. Major banks invest in Ripple and Ethereum for the unique unique technological advantages over Bitcoin. They use these to develop a new hyper modern global payment network in which the major banks will not lose their central place in the new fintech and cryptocurrency paradigm. The risk of Bitcoin for the banking system can be managed and circumvented as Ripple as a cryptocurrency has several significant advantages over Bitcoin.
I can talk all day long about anything related to Ripple, Bitcoin, Ethereum and cryptocurrencies but it would cost me probably a month to get it done hihi. So I would suggest you to take action if you're really interested in learning about the crypto industry. Do yourself a big favor and take your free spot at iCoinPro now and get acces to everything related to this new revolution "cryptocurrencies".
About Chre Majano
Hi, my name is Chre Majano and i'm from the Netherlands. My main focus is in the crypto industry. That's why they call me a Crypto Hoarder ;-)