XRP, which has been skyrocketing and plummeting, won the title of “the world’s smartest company” four years ago, but predicted the demise of ICOs this year

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In fact, Ripple has attracted many people’s attention since the digital currency was not so popular today. This company was also included in the 2014 “Top 50 Smartest Companies in the World” list of MIT Technology Review. The reason for its inclusion was that “this startup company invented its own digital currency to conduct cross-border transactions at lower costs, especially to help people in poor areas participate in global trade”.

 

At the beginning of this year, Ruibo Coin also won the favor of investors. Many investors regard Ruibo Coin as an investment depression in the field of cryptocurrencies in 2018, and are looking forward to the next Bitcoin scenario. But what about the reality? After all, as the cryptocurrency with the highest return rate in 2017 (the annual growth rate was 36018%), the original intention of Ripple Coin to simplify cross-border payment seems to have been forgotten by many people.

 

Ripple Coin, also known as XRP, is the base currency of the Ripple network. The total number of Ripple Coins circulating in the entire Ripple network is 100 billion, and it gradually decreases with the increase of transactions. It was issued by Ripple Labs (formerly OpenCoin) in 2012.

Ripple project is the first open payment network in the world. Users can transfer any currency through this payment network. It is easy and fast to operate. Transaction confirmation can be completed within a few seconds. The transaction cost is almost zero. There is no so-called inter-bank and cross-border payment cost.

Open Ripple’s official website, we can see that it claims to be the only enterprise blockchain solution for global payment in the world, which is specifically designed to solve global real-time cross-border payment.

 

In fact, the original founder of Ripple project is Ryan Fugger, not Chris Larsen. As early as 2005, when Nakamoto Cong had not published a white paper on Bitcoin, Ryan Fugger wanted to develop a decentralized currency settlement system to deal with payment reconciliation between different currencies.

The original intention of this project is to establish a distributed P2P clearing network: everyone is their own bank, which can issue and accept loans, and at the same time act as a lending channel (for example, if A wants to borrow money from B, they do not know each other, but they just know C, then C can act as a channel for A and B, and C first borrows money from B, and then lends money to A, indirectly realizing A’s borrowing from B). The project was almost supported by Ryan Fugger alone and achieved some success.

However, Ripple has not had many users, and it is only popular in several isolated small circles. The reason is simple: Ripple’s design idea is based on acquaintance relationship and trust chain. If a person wants to use Ripple network to remit money or borrow money, provided that his friends already exist in the network, otherwise a trust chain cannot be established between the user and other users.

XRP, which has been skyrocketing and plummeting, won the title of “the world’s smartest company” four years ago, but predicted the demise of ICOs this year
 

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