Ripple: Advantages of the digital world and common systems
Ripple is one of the largest cryptocurrencies on the market by market capitalization and is trying to reconcile with the banks. Ripple could be interesting for anyone who wants to take advantage of digital money without rebelling against the current system. First of all, Ripple is an open-source protocol for a payment network. The underlying cryptocurrency are the XRP tokens, which are often also referred to as ripples. All of these coins have already been issued, ie no new ripples are generated by a mining process. The special thing about Ripple: The cryptocurrency is both a payment method and a trading place.
In the group of cryptocoins like Bitcoin, Ethereum, Monero, Litecoin and Co. Ripple plays an outsider role. While the common cyber currencies strive for a transparent monetary system that is free from state control, Ripple works with banks and enables them to make cheap transfers in seconds – even abroad.
The aim of the “blockchain for banks”, as Ripple is also known, is to assert itself as a separate foreign exchange market and peer-to-peer payment method. Ripple is therefore considered the most unpopular digital currency in the world among those fans of crypto money who value anonymity and independence above all. However, this is not reflected in the market capitalization: Since Ripple is very popular among financial institutions, it occupies one of the top places among cryptocurrencies. It is therefore worth taking a closer look for investors.