XRP is a digital cryptocurrency based on blockchain technology. Like Bitcoin, XRP is decentralized and immutable. XRP is actually an intermediary between various currencies, a bridge between currencies exchange, through XRP, you can pay euros, but the other side can charge US dollars, rapid and convenient transaction, very low commission, commonly known as a double dealer. In cross-border transactions of small companies, XRP can be confirmed as soon as 3 seconds, greatly improving the speed of transactions.
XRP originates from Ripple network and is the only currency in circulation in Ripple system. Party A needs to convert the money into XRP first, and then Party B can exchange the money it wants freely after receiving XRP, which can be legal currency of various countries or virtual currency. XRP is not only a currency intermediary, but also has two advantages. First, transaction records are packaged very quickly; Second, the confirmation method of transaction records is very fast, and all blocks can be confirmed simultaneously (the consensus mechanism of XRP).
The biggest disadvantage of XRP is that the founder holds more than half of the coins, which brings great suspicion to XRP investment, making many investors dare not to buy it hastily, and the three founders have been whitewashing themselves. Here’s what really made XRP popular
Germany’s Fidor bank has announced a partnership with XRP by joining the Ripple protocol.
Digital cryptocurrencies are banned from trading in China, and CCTV listed XRP as a pyramid scheme in 2017.
Follow me and let’s learn the blockchain that everyone can understand!
