Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed, open-source payments system.
The goal of the ripple system, according to its website, is to enable people to break free of the “walled gardens” of financial networks – ie, credit cards, banks, PayPal and other institutions that restrict access with fees, charges for currency exchanges and processing delays.
Ripple works with banks to transform how they send money around the world — a necessary step to compete in today’s growing economy.
Is Ripple like Bitcoin?
In many ways Ripple is like Bitcoin. Ripple’s XRP unit is a digital form of currency based on mathematical formulae and has a limited number of units that can ultimately be mined. Both forms of currency can be transferred from account to account (peer-to-peer, or P2P) without the need for any intervening third party. And both provide digital security to guard against the possibility of counterfeit coins.
As a distributed network, Ripple does not depend on a single company to manage and secure the transaction database.
Consequently, there is no waiting on block confirmations, and transaction confirmations can go through the network quickly.Another advantage of using peer-to-peer is the absence of a “central target or point of failure in the system,” Ripple’s backers note.
To find out more about the Ripple network , visit there website or checkout this article on Coindesk "10 Things to know about Ripple"
Why should you Invest in Ripple ?
Ripple's leadership team is quite impressive. You have all market representations colliding into this group: Internet guru's, Financial experts, consulting and banking experts, cryptography experts, blockchain geniuses, government attorneys, regulatory compliance experts, Silicon valley experts, engineering experts, PR experts, Information technology experts and the list goes on and on and on.
Ripple also has an impressive development team that is working to achieve a top notch professional approach in tapping into markets that only Forex, Wall Street and other heavy players had access to and thriving as a result.
If you search on the currency and the protocol you can read there are many banks worldwide evaluating and joining the protocol for international payments in pilot scale right now. There are also competitors like R3 and Tibado. Read more about exchanges here:
Ripple will be a major Remittances player which is currently dominated by the banking cartels that now own a major share of the $685 billion market. The big boys will have to take the back seat on this market because Bitcoin and now Ripple will overtake their monopolies.
All major traders or companies with good investment advisors or traders would Buy into a rising market. I would definitely suggest investing in Ripple as it's the future of banking.
What is Ripple worth ?
According to Coinmarketcap, ripples were trading at around 17 per $1 (US) on May 1, 2017. (In May 2013, the price was about 1,000 per $1, so the currency has appreciated.)
Four weeks ago, XRP was sitting around a penny a pop. But with more enthusiasm building among traders, it has steadily risen, and today saw a spike of over 30%, rounding out just under 6 cents each.
Where can you store your Ripple
Lets take a look at the most popular wallets to store your XRP Tokens.
Gatehub's platform is the “official” online wallet solution for XRP owners. The project has been around for some time now and attracted quite a few users in the process. Users are presented with a clear overview of their holdings and its value. All analytical data is compiled on a single page, removing the need to deal with different menus.
The second option is Rippex
A lot of cryptocurrency enthusiasts prefer to use a desktop wallet for their holdings. This is also true for anyone who holds XRP right now, as a desktop wallet puts the end user in full control of their holdings. More importantly, the Rippex wallet is available for Windows, Macintosh, and Linux, which will be of great joy to a lot of XRP holders.
I would like to know what you think about Ripple . Leave your comment below if you have any difficulty or to let us know what you think about Ripple.
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