What is so intriguing about the Ripple network and XRP crypto (token)?

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In the category of digital currencies, XRP is one of the popular cryptocurrencies and is one of the outperforming other cryptocurrencies. XRP is traded in the Ripple network which is a Decentralized trade exchange, however, still many do not understand the concept as it is a bit different from Bitcoin and Ethereum. After its launch in the year 2012, Ripple was one of the complicated cryptocurrencies to be followed.



What makes Ripple so intriguing?


Ripple is not a cryptocurrency, but has a native currency XRP token, the network is best utilized or focussed on the use of cryptocurrencies to encourage cross-border payments. According to the crypto enthusiasts, Ripple development service is focussed on the facilitation of the network and the native XRP token. This token was created by Ripple labs and Ripple comprises two separate components; XRP and RippleNet.XRP, which is a cryptocurrency.

RippleNet was developed to work as a payment network designed for enterprises and will allow the banking bodies or any financial institutions to transfer money and assets seamlessly. Ripple is generally categorized as a blockchain-based platform, but that is not entirely true. The network does share some similarities with Ethereum and Bitcoin blockchain, but some distinctive features set it apart from the above-mentioned.


Key takeaways of Ripple network –

·         Ripple is an open-source peer-to-peer decentralized network that helps with easy transfer of money.

·         Ripple network is best suited for cross-border or international payment settlements.

·         Ripple protocol was only developed for offering secured, instant, and free global money management.

What makes XRP cryptocurrency so intriguing?


Suiting the requirements of the XRP ledger, XRP is a cryptocurrency that is engineered to facilitate transactions. XRP token can be used as an investment tool, exchange for other currencies, and can even work as a way of finance transactions on the Ripple network as well. In the category of Decentralized trade exchange, XRP’s blockchain works a bit differently as compared to other cryptocurrencies.

As mentioned earlier, XRP is the best tool designed for financial institutions and payment gateway providers, and the token can be used to store value as well. The XRP ledger is capable of handling over 1,500 transactions every second and the system is open 24/7. The payment transaction of XRP is the fastest as compared to that of Bitcoin or other digital assets. This is made possible for utilizing the “proof of work” algorithm that validates every payment.

Key Takeaways of XRP –

·         XRP tokens can be generated by using the easiest process of mining, as compared to other digital currencies.

·         XRP speeds up quick conversions on the Ripple network between different cryptocurrencies.

·         XRP bridges the currency exchange between different currencies, be it fiat or a digital currency.

The Ripple network and its native cryptocurrency XRP is the best digital asset to buy and invest, and with Cryptocurrency development in India taking a huge leap, Ripple might be recognized as a payment system by the banking bodies.

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