Ripple (XRP) was founded for the purpose of being a free software developed in a credit system based on a computer network.
Each programming node of the Ripple cryptocurrency functions as a local system, thus forming a decentralized shareholder bank.
Taken to the limit, the Ripple network is a social network system distributor that is based on honesty and trust between existing users of social networks in reality.
Therefore, financial capital is held in social capital.
An initial version of the Ripple network would be based on an expansion of the existing banking system, where there would be alternative payment methods without the need to go through a central bank.
Ripple offers a frictionless experience to allocate global money making use of the power of blockchain (chain of blocks).
All financial institutions, by associating with the global network of Ripple, can make the payments of their clients instantly from any part of the world, this method is totally profitable and trustworthy.
Both providers and banks can use the XRP of digital assets to further reduce costs and access new markets.
Ripple has a market capitalization of $ 26,408,434,428 usd that keeps it number 3 in the ranking, it is considered one of the most interesting being compared with Ethereum or Bitcoin. Ripple has offices located in major cities such as San Francisco, New York, London, Sydney, India, Singapore and Luxembourg.
The main reason for holding the first positions in the cryptocurrency rankings is due to the internal agreement of some Japanese and South Korean banks.
This crypto is specially created for its operation within the current transaction system.
A great job was also done, attracting some companies for the acquisition of their technology.
This cryptocurrency is based on free software that seeks the development of a credit method using the peer to peer network paradigm.
The Ripple nodes work as a local exchange system, this way the whole system forms a decentralized shareholder bank.
The main key of Ripple is to be able to route payments on social networks with the greatest confidence and stability, always being arbitrary, imitating the Internet when it routes the databases using computer networks.
One of the main advantages of this procedure is that it will not depend on any institution that makes decisions regarding the monetary policy of the entire state; the final decision would be in the hands of the participants, moving to a completely democratic action.
This procedure would become a much more solidarity action and would give a better resolution to the needs of each of the regions and communities involved.
In this way, a regulated institutional hierarchy would not be necessary to examine the central participants.
An added value would be that even if some of its nodes were lost, the Ripple network, being a global monetary system, could continue operating unlike the Internet.
Ripple with its protocol does not prevent the appearance of hierarchical payment structures, it only allows the appearance of other structures.
We can say that we have a particular alternative to traditional cryptocurrency, and it is proven that the concept pursued by Ripple has undeniably reached certain financial organizations.
Some financial entities such as Banco Santander or American Express have already made investments in the new project and plan to make use of them in the future.
With the confidence of traditional banking, Ripple is in a peculiar position, being able to become a very interesting alternative for those who decide to acquire them.
This interest causes Ripple to progressively increase its price in a short period of time and currently has the opportunity to take the second place from the market (in valuation) to Ethereum.
From a technical and practical point of view, the main differences with the vast majority of active cryptocurrencies such as Bitcoin or Litecoin are that Ripple is a safe and fast means for financial institutions such as banks, exchange agents, securities firms, exchanges, among others get liquidity conveniently and quickly.
Ripple with these characteristics is considered as an alternative to the old SWIFT system, a method from which banks perform international transactions.
Ripple is run by a single company that has headquarters in Sant Francisco, unlike bitcoin. We know that because of this monetary revolution, several current executives and former workers of Ripple became multi-millionaires of cryptocurrencies.
The added value of Ripple is that not only it is not created or mined by users, but also, unlike bitcoin, the company has full control.
Originally, 100,000 million Ripple coins were created and currently only 38,000 million are in circulation. The administrators of Ripple can unlock up to a maximum of 1,000 million monthly, what can be predicted, according to Powaga, is that it could eventually oversaturate the market.
At this moment the land is controlled by Bitcoin because of its high capitalization.
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