What is Ripple?
Ripple is the world's first open payment network. Through this payment network, you can transfer any currency, including US dollars, Euros, Renminbi, Japanese Yen or Bitcoin. It is easy and fast, and the transaction is confirmed within a few seconds. Completed, the transaction cost is almost zero, there is no so-called cross-banking and cross-border payment.
The largest circulation of Ripple is 100 billion and is gradually decreasing as the number of transactions increases. Ripple's operating company is Ripple Labs, formerly known as OpenCoin.
Ripple is an open source peer-to-peer payment network that allows any organization or individual to easily, inexpensively and securely transfer money to any institution or individual on the Internet, no matter where in the world. Ripple is a P2P software that can be created by anyone, company, or government. Anyone can create a Ripple account.
Characteristics of Ripple
Ripple is the only common currency in the Ripple system. It is different from other currencies in the Ripple system. Other currencies such as CNY and USD cannot be cashed out across the gateway. In other words, the CNY issued by the A gateway can only be cashed out at the A gateway. If you want to withdraw cash at the B gateway, you must convert it to the CC of the B gateway through the pending order function of the Ripple system before you can withdraw it to the B gateway. Ripple has no such restrictions at all, it is universal within the Ripple system.
Advantages of Ripple
- Cross-payment network link
- Even pay as needed
- Real-time tracking of funds
- Low operating and liquidity costs
Ripple’s centralized operation has also been criticized by many people. Because the Ripple team holds most of the tokens, there is a risk that the team will maliciously manipulate the currency. Ripple Labs has also repeatedly stated that after the development of Ripple, the influence of the centralized team is gradually removed, such as exiting the verification node, making Ripple a true decentralized blockchain network.
Intro of Ripple
Release date: 2011-04-18 Total issued amount: 100 billion
Total liquidity: 40,327,341,704 Circulation market value: 13 billion USD
XRP white paper: https://ripple.com/files/ripple_consensus_whitepaper.pdf
Official website: https://ripple.com/
Block query: https://xrpcharts.ripple.com/#/graph/