What is Ripple Coin ? Summary of all information about Ripple (XRP coin)
What is Ripple Coin ? Summary of all information about Ripple (XRP coin)
Contents
There are many different virtual currencies on the market today and not everyone understands them all. One of the cryptocurrencies that receive the most attention is Ripple. So what is Ripple coin, what are the highlights? Want to own Ripple coin what to do? Find out below!
Let’s learn all about Ripple Coin
Let’s learn about Ripple and Coin Ripple
In this article, there are 2 important concepts you need to understand, what is Ripple and what is Ripple? What is Ripple coin?. Specifically:
What is Ripple?
Ripple or full name is Ripple Labs is a famous company in the world established in 2012, specializing in providing international payment solutions with extremely fast speed, almost instant. . These payment solutions are currently used by many banks and financial institutions. It can be said that Ripple is one of the first generation companies, pioneering in the blockchain industry and contributing a lot to the development of the industry.
Find out what is Ripple coin
In 2005, Canadian decentralized system developer Ryan Fugger officially released the Ripplepay decentralized digital currency system. Until 2011, Former founder of Mt.Gox – Jed McCable was determined to develop his own cryptocurrency project. In May 2011, a lottery called XRP Ledger was jointly developed by Jed, Arthur Britto, and David Schwartz.
The Birth of Ripple Coin
In September 2012, the company OpenCoin was established and is managed by Jed McCaled, Chris Larsen, Arthur Britto after Fugger decided to hand over the control of Ripplepay. Immediately after its establishment, OpenCoin quickly deployed to build the Ripple payment network with the Ripple Consensus Protocol (RPCA) consensus.
After the Seed Round took place between April 2013 and May 2013, OpenCoin was invested 5.5 million USD by major investment funds such as Digital Currency Group, Google Ventures, Andreessen Horowitz, etc.
The Birth of Ripple Coin
In September 2013, OpenCoin changed its name to Ripple Labs and Jed McCaled also officially left to found Stellar (XLM). By early 2015, Ripple and Western Union cooperated. Later Ripple Labs changed its name to Ripple but the company kept the name Ripple Labs Inc in October 2015.
In September 2016, SBI holdings – Japan’s largest stockbroking company invested $55 million in Ripple, thereby owning ~10.5% of the company’s shares.
By 2017, Ripple and many banks signed a contract to use RippleNet and this year the first annual SwellbyRipple event was held.
Ripple has launched its XRP cryptocurrency. Accordingly, this will become the representative coin in transferring value to the Ripple network. The production of Ripple coin The main purpose is to become a bridge, performing many different transactions, including cryptocurrencies and fiat currencies.
good XRP coin Ripple coin can help businesses and financial institutions make cross-border transaction liquidity easier. This virtual currency can shorten the time of transferring money from one country to another because the transaction is processed almost instantly, thereby reducing foreign exchange costs.
Ripple coin highlights
Coin Ripple has many outstanding features such as giving users many benefits and possessing distinct strengths compared to other cryptocurrencies. Specifically:
Ripple coin highlights
Ripple coin benefits
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- Shorten the transaction time, on average it only takes about 4 seconds for the transaction to be processed successfully Transaction fee is equal to
Ripple coin
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- very cheap, only about 0.00001 USD/transaction Currently, Ripple is cooperating with more than 100 different banks, including big and prestigious banks in the world such as Standard Chartered, Bank of America, JP Morgan, Santander, UBS , Barclays and American Express, etc. should bring great benefits. Transactions with Ripple coin have added both transparency and security through the method of adding each transaction to an immutable public ledger. very safe transactions Transactions with
Ripple coin
- completely on par
Ripple cooperates with many big banks
Ripple coin advantage
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- Guaranteed no inflation problem because the tokens were issued and existed from the very beginning. The value of Ripple coins is high due to cooperation with hundreds of big banksRipple is not a blockchain startup but a trusted organization trusted businesses, financial institutions and banks. At the same time,
Ripple coin
- It is also not subject to as many inspection regulations as other virtual currencies.It is easy to convert this virtual currency into other valuable assets or currencies without the big difference in commission.
Ripple coin details
Ripple name, supply, contract
Coin Ripple is denoted XRP and has a maximum supply of 100,000,000,000 XRP. The total supply of XRP reaches 99.991,316,762, of which, the circulating supply is 43,248,091,671.
Now Ripple has officially patented the smart contract. According to this smart contract, the distributed platform can connect to different types of data right in the real world thanks to oracles.
Specific information:
- Ticker: XRPBlockchain: XRP LedgerConsensus: XRP Ledger Consensus ProtocolToken Type: Utility TokenAvg. Block time: 4 secondsAvg. Transaction Time: 1,500+ TPSSmallest Unit: 1 XRP = 10^5 dropsMax Supply: 100,000,000,000 XRPTotal Supply: 99,91,316,762 XRPCirculating Supply: 43,248,091,671 XRP
Current rate
According to Coinmarketcap, the current exchange rate of Ripple coin or XRP coin is as follows:
Ripple Coin Current Rate
However, these are only rates at the time of writing. This rate may change from time to time, depending on market fluctuations. To see the exact exchange rate, you can refer to: https://coinmarketcap.com/currencies/xrp/
How to own and trade Ripple
Coin Ripple cannot mine like with BTC or ETH because this coin uses RPCA algorithm. Besides, Ripple also does not organize events or airdrops. Therefore, if you want to own Ripple coin you can only buy on cryptocurrency exchanges.
There are quite a few crypto exchanges that accept Ripple transactions. These include:
- International Exchanges: Binance, Snapex, Bitfinex, OKEx, Huobi,…Vietnam Exchanges: Vicuta, Coinhako, Remitano, T-REX,…
Roadmap and team of developers
Ripple’s Roadmap
Ripple’s Roadmap has been announced by the developer, you can refer to it through the following image:
Ripple’s Roadmap
Ripple’s developer/backer(if) team
OpenCoin is the company responsible for building and developing Ripple coin. In which, playing the most important role are CEO Chris Larsen and CTO Jed McCaled.
Chris Larsen:
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- Nicknamed “Angel”. He was involved in founding and leading the financial company E-Loan and many other startups in the field of online financial services.
McCaleb:
- He is the co-founder of Mt.Gox and participates in major crypto projects such as eDonkey, Stellar (XLM), Overnet
Besides, in Ripple’s development team, there are many other talents in the financial and cryptocurrency industry.
XRP Coin Development Team
On the other hand, Ripple is also cooperating with many big and reputable partners in the world such as: Currencies Direct, Cambridge, Cuallix, Banca Intesa SanPaolo, MoneyGram, WesternUnion, ZipRemit, ViAmericas, Nordea, Macquarie, Mercury FX, IDT, Scotia Bank, National Australia Bank, Santander, Barclays, Royal Bank of Canada, Bank of Montreal, WestPac, CIBC and Natixis.
Closing and Disclaimer
So we have shared details about Ripple coin. Through this article, you must have clearly understood what this virtual currency is, what is outstanding, what is the exchange rate, who the developer is and how to trade and own. It can be said that this is a very valuable coin to refer to and invest in. And obviously, in these years Ripple virtual currency is also receiving a lot of attention.
Disclaimer: The information we share above is for reference only for the purpose of helping you better understand this coin. This is not advice or encouragement to invest in Ripple coins. Therefore, we do not bear any responsibility for your Ripple investment and transaction.
