Since the inception of the cryptocurrency in the form of Bitcoin, it has created an economical revolution in the world. For the last few years Bitcoin has played the part of a major player. Even though it was quite an advantageous position for Bitcoin, it was quite an obvious fact that other cryptocurrencies were going to emerge. As expected, a lot of cryptocurrencies came into the market, but few were only able to make the mark. One of the few is the Ripple(XRP) which has been able to create ripples in market with its’ unique features.
Ripple also known as a real-time gross settlement system (RTGS), is the name for both a native digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed, open-source payments system that’s still in beta. Two men CEO Chris Larsen and CTO Jed McCaleb from Opencoin Company need special mention for this because they are the inventors behind this innovative technology. Research says, Ripple is built on one of the best & the most updated Blockchain Technology that is scalable, safe & helps in interrelating different network.
This currency technically helps the money keep flowing freely. Ripple is the new “talk of the Cryptocurrency world”. It is almost like Bitcoin but not a competitor to the Bitcoin rather it complements Bitcoin. Definitely it is much different from Bitcoin, as Ripple is a back-end foundation and not a user facing product. Even though it is the hottest trend in the market, the price of Ripple is much less than Ethereum and Bitcoin. But Ripple is making a huge mark for its technology beside the currency factor. The Blockchain Technology of Ripple helped it gather acknowledgement across the globe from approximately 60 major financial Institutions. With the recent announcement of the launching of xCurrent, xRapid and xVia it has not only claimed itself to set a new benchmark in the cryptocurrency industry but also is going to assist its’ customers by helping them leverage themselves from undue hassles. Since its inception in 2012, the whopping $6.64 Billion speaks itself. What actually helped Ripple break the barrier is the way it integrated itself with other financial institutions that no other currency till date has done.