Ripple XRP

What is Ripple (XRP)?

As one of the most famous cryptocurrencies, XRP, which was created in 2012. In 2001, it received the attention of numerous investors and speculators who believe in the return of this cryptocurrency to the price peak from a few years ago year. XRP coin is the main link of Ripple’s network, which tries to become a leader for cross-border transactions, and their main advantages are cheaper and safer transfer of money compared to traditional methods involving banks. This is possible due to the use of blockchain technology that allows the transfer of money between two entities without the need for a third party such as banks. We will consider the progress that Ripple is making with its many partnerships, but also how they deal with a lawsuit filed by the SEC before more than two years, and what the final result of this trial could for the price of XRP. Ripple’s doing great in combat, and the SEC he was unable to find the big mistakes made by the team, and they don’t have the real reason for declaring XRP unregistered security, which would remove it from the U.S. cryptocurrency market forever.

*Security – unregistered sale of assets (stocks, bonds, cryptocurrencies…). In the U.S., before selling this type of asset, it is necessary to register it with the SEC (Securities and Exchange Commission). Ripple didn’t do this before selling XRP, but at the time there was no clearly specified regulation for selling cryptocurrencies.

Source: Cointelegraph

How does Ripple work?

Ripple is working on a decentralized, open-source platform source). All transactions are made between two entities without an intermediary. (peer-to-peer) which allows seamless transfer of money to any what form, whether it is dollars, yen, euros or some other traditional currency, or it is a cryptocurrency such as Bitcoin, Ethereum, Litecoin… Ripple in its global payments network it has large clients such as banks (Bank of America, SBI Holdings, Royal Bank of Canada) and financial services institutions. Ripple’s Coin XRP is used to facilitate and speed up conversionbetween different currencies.

Source: Cointelegraph

Who are the founders of Ripple?

Ripple as a project was created back in 2004. years, but he had nothing. common with today’s cryptocurrencies. The real history of Ripple starts in 2013. the year when the programmer Jed McCaleb, the creator of eDonkey network, collected a number of large investors who helped him The founder of Ripple Labs. Ripple Labs co-founded with Chris Larsen, who was a business executive and one of the richest men in the world. the world of cryptocurrencies. McCaleb, on the other hand, is an entrepreneur and a well-known a programmer who has helped found numerous other projects such as Stellar and at that time the largest cryptocurrency exchange Mt. Gox.

Source: Cointelegraph

Special feature of XRP

XRP was initially designed to conduct everyday transactions with Since it offers much less transaction fees in compared to all cryptocurrencies. Today, however, the situation somewhat different, XRP is rarely used in everyday transactions, And developers are gradually focusing on institutional application XRP. The true uniqueness of the XRP lies in its ability to replace any currency or valuable (such as gold) with a minimum Commission.

Source: Cointelegraph

Ripple problem

The biggest problem associated with Ripple’s XRP coin is the impossibility Buying this coin in the U.S. We all know it’s a world. financial and investment center, and that if you want to attract institutional investors, it is best to look for them in the U.S. But because of not so long-standing events with U.S. regulators, primarily With the SEC, Ripple’s XRP coin is impossible to buy and sell on any exchange offices in the U.S. The SEC and Ripple suit has been going on for more than two years. In 2001, investors are constantly awaiting the result of this trial. If Ripple were to win, this would bring xrp coin back to us. the use of the U.S. investment, which would be led to a rise in price. Recent news related to the lawsuit allege this is a very likely outcome given that the SEC does not have enough evidence to charge Ripple. On the other hand, if Ripple has been selling unregistered securities. $1.3 billion worth of paper, we can forget the return these cryptocurrencies on U.S. exchanges, and thus the future of this the project, given that most of the operations associated with Ripple- He’s doing it in the U.S.

Source: Cointelegraph

Similarities and differences between Bitcoin and XRP

The vision of Bitcoin and XRP is similar given that both projects target cheapen, simplify and secure money transfers globally Level. A compromise that Ripple’s founders decided to make in order to additionally cheaper sending money to Ripple network is removal Blockchain technology. Instead of using blockchain, Ripple is simple centralized and all transaction history is saved no a centralized book of transactions (eng. Ledger), while the code Bitcoin ledger distributed worldwide which guarantees maximum transparency and security. Another big difference is the initial a coin at the time of the creation of these projects. Bitcoin is launched with zero coins in circulation, and is also the creator of Bitcoin, Satoshi Nakamoto, he had to mine, that is, consume energy, in order to earn Bitcoins. With the other side of xrp there was a so-called pre-mine, through which XRP creators received coins before they were traded on the free market. Eighty percent of XRP’s offer was awarded Ripple, while the remaining twenty percent was handed over to co-founders and the main team. This is also the biggest problem of XRP, which is why The SEC and launched a lawsuit against the project.

Source: Cointelegraph

Conclusion

Despite numerous controversies, XRP remains one of the largest crypto currency by market capitalization, and is attractive to all investors who believe in the modernization of traditional banking and financial the service, but they are not too enthusiastic about the decentralization they offer other cryptocurrencies. It can be used just like any other cryptocurrency. to invest, but the peculiarity of this cryptocurrency lies in a very low transaction fees which makes it great for sending smaller the amount of money. If you decide to invest or buy this one temporarily cryptocurrency be sure it’s the best place to do it directly on our cryptomates. Who do you think will come out as the winner of the trial between Ripple and the SEC, share your opinion with us on our social networks (Twitter, Instagram).