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    ฿77,230 ($522,940,092)
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Ripple XRP: The Blockchain Solution for Financial Institutions

Ripple XRP is a cryptocurrency that was developed to revolutionize inter-bank payments through the use of the Ripple protocol. While the cryptocurrency is termed "Ripple" the liquidity and settlement token in the Ripple protocol is termed "XRP" and is used by the counter-parties to settle these inter-bank payments. Ripple is trying to take on the likes of Swift which handles cross currency payments. The Ripple protocol can be used to facilitate the transfer of value from one person in the world to another in a decentralized manner. Ripple was developed by a company called Ripple Labs and was initially launched in 2012. Ripple Labs has been forging a number of really important relationships with banks and other financial institutions that are trialing the X-rapid and X-current, the Ripple products. The main benefits of Ripple are the speed and cost of transactions. Ripple is able to settle international payments in less than 4 seconds and the fees are approximately 0.00001 XRP per transaction. Given that XRP is a liquidity and settlement token, it can also be used for transactions of unrelated assets such as fiat currencies and commodities etc. Ripple Labs is backed by large venture capital firms and has some really experienced developers and founders. There are concerns around the centralization of the Ripple network as the bulk of the XRP are controlled by Ripple Labs. The Ripple Protocol consensus algorithm (RPCA) is also centralized but can scale more easily when compared to Proof of Work algorithms. The biggest competitor to Ripple is Stellar Lumens (XLM) which is a fork of Ripple and is trying to develop a decentralized micro payment network.

Follow-up Tracking Rating : Ripple | Rank : A | Risk : Low

In the past two days, the explosive growth of XRP in the secondary market also showed that XRP can make a good performance despite the current situation of the whole market.

Ripple Rating Report

Ripple connects banks, payment providers, exchanges, and corporations via RippleNet. Its token, XRP, is used for cross-border payments of the xRapid business. At present, the project has cooperated with many banks, but its solution relies on centralized institutions. Additionally, its token distribution is currently relatively centralized.
  • Details
Max SupplyCirculating SupplyIssue DateIssue PriceConsensus ProtocolExplorer
100,000,000,00039,997,634,3972011-04-18-Proof of Correctness1
Total SupplyCryptographic AlgorithmSource CodeWhite PaperWebsiteType

Designed in 2012, Ripple (Symbol: XRP) is a blockchain system uses real-time gross settlement system to transfer and exchange money. The coin has the Ripple Transaction Protocol (RTXP) or Ripple protocol designed on a scattered open-source Internet protocol, consensus ledger, and XRP coin. Ripple attempt to promote safe, immediate and nearly free global monetary transactions with every size. Ripple helps tokens represent real money, digital currency, commodity or any other intrinsic value items like the number of phone minutes. Ripple is relied on a shared, public ledger employing a consensus process that allows payments, exchanges, and remittance in an allocated process. Ripple ensures its consensus framework against rival Stellar Network in 2014. At the moment Ripple becomes the third-largest digital crypto market, just behind Bitcoin and Ethereum. Some organizations like Santander, UniCredit employ Ripple Protocol. More and more banks and payment networks have adopted Protocol as a new foundation technology. According to the bank, the allocated ledgers performed in Ripple platform have lots of advantages such as price and security of digital currencies like Bitcoin