What Is Ripple?
Ripple is a payment network system (RippleNet) and cryptocurrency value (XRP) that was introduced in 2012. Ripple is a centralized cryptocurrency unlike many other cryptocurrencies. Although it is traded on the Blockchain system, all books traded are managed by the company.
With Ripple, the goal is to transfer large amounts of assets and money quickly, reliably and cheaply through the blockchain system.
The CEO of Ripple is Brad Garlinghouse and has offices in many parts of the world.
Ripple is currently the third highest market value cryptocurrency after Bitcoin and Ethereum.
Having a corporate headquarters has enabled Ripple cryptocurrency value to become a cryptocurrency and transfer system preferred by payment systems provider companies and banks.
What Are The Advantages Of Ripple?
* Ripple offers international shipping at very low costs and very short periods of time thanks to blockchain technology for asset and money transfers.
* The fact that it is the third highest market value cryptocurrency and has a very high trading volume causes it to be traded on many exchanges. This also facilitates accessibility.
* Unlike decentralized cryptocurrency values such as Bitcoin, the fact that its value is based on a profitable company is the most important element that distinguishes Ripple from other cryptocurrency values.
* It continues to increase its value day by day with its agreements with major payment systems provider companies and banks.
How Is Ripple Mining Done?
Unlike other cryptocurrencies, Ripple is not mining or producing. The company produces all ripple values in circulation. Although the total amount of Ripple produced is 100 billion units, only 40 billion ripples have been released by the company.
Following a different policy from Bitcoin and other cryptocurrencies, the company adopted a different production system from mining. Produced ripples continue to be released at regular intervals.
What are the differences between Ripple and Bitcoin?
* The Bitcoin system is not connected to any center, while Ripple is owned and controlled by a company.
* Bitcoin can make 4 transactions per second in transfer transactions, while Ripple can make 1500 transactions per second. (These figures may change over time)
• Ripple is a much more convenient method than Bitcoin when it comes to commission fees deducted for Transfer transactions.