Ripple (XRP) Wallet
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What is Ripple?
The first thing to know is that Ripple is both a platform and a currency. The Ripple platform is an open-source protocol that is designed to allow fast and cheap transactions.
Unlike Bitcoin, which was never intended to be a simple payment machine, Ripple will definitely govern all international transactions worldwide. Pretty ambitious, but who knows? Maybe currency exchanges will disappear in a few years.
The platform has its own currency (XRP), but it also allows everyone to use the platform to create their own through RippleNet.Visit Ripple Website
Although many coins can be obtained through mining, mining is not possible using XRP. All XRP coins were created at the beginning of Ripple, and XRP coins are regularly launched on the market. Buy and store XRP in Guarda Wallet.
Ripple Protocol Consensus Algorithm (RPCA)
Unlike Bitcoin or Ethereum, Ripple does not have a Blockchain. A cryptocurrency without a Blockchain might sound rather strange - after all, if you do not have a Blockchain, how can you check the transactions to make sure everything is OK? Ripple has its own solution to this with patented technology: the Ripple Protocol Consensus Algorithm (RPCA).
The word 'consensus' in the name means that if each node agrees with all the others, there is no problem. This works in the same way as a committee that requires unanimous agreement from all members on important decisions.
What are the differences between Ripple and Bitcoin?
As mentioned earlier, Ripple and Bitcoin are different in many ways. Firstly, Bitcoin uses Blockchain technology whereas Ripple uses a distributed consensus register, which, in turn, works with a network of servers responsible for checking and XRP encryption tokens.
Ripple's brilliant idea is to create a platform for the direct transfer of real-time assets, such as gold or traditional money. In turn it seeks to become a more economical, reliable, and secure alternative to replace the transfer systems that banks currently work with, such as the SWIFT payment system.
Ripple has remained stable since its launch, unlike Bitcoin, which this year showed a lot of depreciation. Regarding transactions that process both cryptocurrencies, Ripple is capable of handling 1,500 operations per second (tps) and has been updated to increase to 50,000 Visa transactions per second. In stark contrast, Bitcoin only processes 3 to 6 tps, excluding scale levels.
Regarding extraction, XRP Ripple cannot be extracted like Bitcoin, Litecoin, Ethereum, or other cryptocurrencies. The pulsation since it began its trajectory has betrayed its totality (one hundred billion), so it does not need a mining process to survive.
An increasing number of banks and payment providers are now including Ripple among their options, as it is intended for use by companies and from person to person, even if this is not the primary purpose. Remember, the primary goal of Ripple is to transfer large amounts of money from anywhere in the world as quickly as possible.
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