Ripple is an RTG system that is built upon an open source and distributed Internet protocol, a proprietary consensus ledger system and an in-house cryptocurrency XRP(ripples). It also functions as a currency exchange and a remittance network. Ripple aims to deliver fast and secure payments across the globe while having no chargebacks. It was found in 2013 by Jed McCaleb and Chris Larsen.
RIPPLE (XRP) PRICE PREDICTION 2018
XRP is the official currency of the Ripple system and it is divisible by up to 6. it has become the third largest cryptocurrency in the world trailing behind Bitcoin and Ethereum. It uses a consensus ledger that is a shared leger system which is a distributed database for storing all the information about users. The consensus process is distributed and the goal of consensus is for each server to apply the same set of transactions to the current ledger. It offers extremely fast cross-currency transactions to businesses thanks to the use of a proprietary pathfinding algorithm that ensures the use of the cheapest and fastest path for every transaction.
All transactions done through Ripple are cryptographically secured and algorithmically verified. The Ripple system also supports paying to any Bitcoin user through its network thanks to a Bitcoin bridge that links Bitcoin and Ripple. The transaction information on any Ripple account is public but the fact that account information is still kept private makes it harder for people to associate any particular transaction with any user or account. The value of XRP now sites at 0.61$ but the market cap is behind only Bitcoin and Ethereum at $23.29 billion. The current coin supply is around 39,009,215,838 coins.
FEATURES OF RIPPLE
Fast: It gives you incredibly faster transactions time of around 3-5 seconds when compared to the approximately one hour that Bitcoin takes.
Cost: The transaction cost is around 1/1000th of Bitcoin at $.0004 versus $40 for Bitcoin.
Availability: There are around $100 billion XRP’s created which is much higher than the 21 million Bitcoins out there.
Developer ecosystem: This one has more developers dedicated to its development that Bitcoin has.
Ripple also uses wallets to buy, sell and store XRP’s. Wallets help us to securely store and manage transactions for cryptocurrencies. There are some wallets out there. The most popular among the wallets are Coinspot and Rippex. Other famous ones are Exarpy and Toast. You can use XRP with any one of these wallets easily.
HOW TO BUY RIPPLE
There are many different ways to buy XRPs today. The best way is to use an exchange that supports XRP. There is no way to directly by XRP’s using credit cards/cash if you live in the USA. There are popular ones like Coinbase which allows you to buy Bitcoin using credit cards and use it to buy XRPs. Other exchanges include BitPanda and CoinMama. You can also buy it using cash PayPal, credit cards etc if you live outside the US. You can always use a dedicated wallet to buy XRPs.
Ripple is a great currency to invest in 2018, according to leading investors and researchers. XRP gives you much more flexibility and supply than many other cryptocurrencies.