Recently it became known that Apple added the cryptocurrency Ripple to its "Stocks" application. You can now monitor the changes in the coin's rate anywhere in the world. The currency has a large number of...
Recently it became known that Apple added the cryptocurrency Ripple to its "Stocks" application. You can now monitor the changes in the coin's rate anywhere in the world. The currency has a large number of pairs, both with fiat money and with Ethereum and Bitcoin.
Soon, analysts expect another exciting event - a deal between the giant of online commerce, Amazon, and Ripple. The interest online retailer's interest in fast and secure payments is obvious. And if the companies become partners, the value of Ripple will grow significantly. On the day of writing this, the XRP rate is $0.66 per coin. By the way, the record high for Ripple is $3.84.
Ripple (XRP) is a cryptocurrency platform launched by Ripple in 2012. The platform performs currency exchange operations without refunds and is an alternative to SWIFT and Western Union payment transfers. The abbreviation of the internal currency is XRP.
The mission of the company is to ensure full financial freedom from supervision from banks and governments as a whole. Instead of often long and expensive banking operations, Ripple offers almost instant transfers with very low commission due to the fact that the network is distributed. The user retains full control over the process. But financial institutions were also interested in Ripple themselves because of the attractiveness of the product.
A bit of history
Surprisingly, Ripple is older than Bitcoin. Back in 2004, Canadian developer Ryan Fugger began to create a system of electronic payments - Ripplepay. Users were attracted by the fact that the project was constantly developing and improving. The level of trust was so high that the client base was replenished rapidly.
In 2011, the developers set a new goal - the creation of a decentralized network without mining, but with a high transaction processing speed. Using this benchmark, Ripple bypassed Bitcoin.
Since 2014, under the leadership of the new director Chris Larsen, the company has changed its goals. Its main task now is to cooperate with the banking system. The German bank Fidor, as well as Western Union, were the first major partners of Ripple. Now the list of the comapny's partners includes dozens of the largest financial organizations in the world.
What is Ripple?
XRP is one of the most popular cryptocurrencies in the world.
The Ripple platform does not function on the blockchain, but on payment gateways, which is very attractive for banks and other financial organizations. Thanks to this, all transfers have become faster, cheaper, and safer. To date, contracts have been signed with more than a hundred banks around the world.
Ripple works with online services, shops, and currency exchanges. The user sends money to the gateway from his wallet or payment card and the system transfers it into any currency at the most favorable rate.
The network registry is updated every second and all data is stored on the nodal servers in the system, which allows you to receive up-to-date information very quickly.
System users can transfer any currency to each other: euro, dollars, rubles, rupees, yens, etc. And also in precious metals: platinum, gold, and silver. It is even possible to exchange airline bonus miles.
It is impossible to interrupt the internal monetary unit of Ripple. The developers of the protocol released 100 billion units of XRP during the launch of the platform. And each coin can be divided into a million parts which are called drops. More than 70% of the coins are still kept by the developers.
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