Ripple coin was first introduced by Ryan Fugger, a Web developer in Vancouver, B.C., Canada in 2004. The intent was to create a monetary system that was decentralized and could effectively empower individuals and communities to create their own money. On the basis of this protocol, a new digital currency system appeared in May 2011, for which its own crypto currency XRP was issued. This led to the development of a new system in 2011 by Jed McCaleb and in 2012 was launched by Chris Larsen and Jed McCaleb.Ripple is the California-based tech company that aims to make it faster, easier and more affordable to send cross-border payments. XRP (XRP) is the independent digital asset that facilitates transactions on the Ripple network, acting as a bridge between different fiat currencies and as a source of liquidity.
Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP. ... Ripple transactions use less energy than bitcoin, are confirmed in seconds, and cost very little, whereas bitcoin transactions use more energy, take longer to confirm, and include higher transaction costs.Ripple gateways transport payment IOU information to each other using https: the same protocol that banks already use for secure online credit card payments. 3 to 4 seconds after a payment is made, the Ripple network triggers the gateways involved in the transaction to update their ledgers. The price of 1 XRP to Dollar is $0.59 as of date.
It's already one of the largest cryptocurrencies, and it could have serious untapped potential. If you've been looking for crypto investment opportunities outside of buying Bitcoin, you may have come across XRP. ... Cryptocurrencies are usually high risk, high reward, but XRP is even riskier than the typical coin.
The Ripple platform allows fast and cheap digital transactions. XRP can be purchased on various exchanges such as Bitstamp, Kraken, and GateHub.