Saturday, February 10, 2018

Ripple: the cryptocurrency that wants to challenge Bitcoin :


It is likely that you already know Bitcoin, the cryptocurrency number one booming in 2016 and 2017, but you should know that there are several other virtual currencies whose main features are not having a tangible form , and especially not to answer a single organism but rather a borderless control protocol, theoretically accessible from any computer.

Among the most cited are Ether (ETH) and Ripple (abbreviation: XRP). If the former is also an electronic currency distributed under free license, the second, not only to act as a bargaining chip, also prides itself to accelerate international transactions by working in parallel with the traditional banking system, a system in progress. appearance cheaper, faster and safe.

The Californian start-up Ripple, created in 2004, uses a blockchain transaction protocol, based on its own cryptographic currency that allows it to offer services such as the exchange of currencies or commodities and the transfer of funds. real time. Compared to Bitcoin, which focuses more exclusively on the currency aspect by encouraging minors to provide more and more computing power to the network, Ripple is first and foremost a transactional network that uses its crypto-currency to speed up exchanges (some seconds for a transaction between Spain and Mexico, compared to four days for traditional banking organizations and a few hours for Bitcoin).

And banks and governments are scrambling to take advantage of the system. The National Bank of Abu Dhabi, for example, calls on Ripple to offer fast and economical cross-border transactions to its customers. What stir up the curiosity of online traders who do not want to miss the boat: after all, if the Bitcoin, the ancestor and rival of Ripple, continues slowly but surely its meteoric rise in the markets, the additional benefits offered by the second Here too, we can only stimulate reliable and rapid growth.

So, since there are no minors, how do you trade Ripple? According to rules set by Ripple, one billion XRP are traded each month and if the value of the currency fluctuates, the future could be promising for those who have thought to invest their dollars or their euros in some XRP.

Cryptographic currencies that appeared on the markets have long been doubted, and the slightest decline in value is accompanied by a small panic effect among investors, a reaction that is understandable since the technologies used by these networks are so new and high. -tech that it is difficult to predict their future movements.

Still, Ripple's recent alliance with MoneyGram, as well as the deployment of the system by 11 of the world's 100 largest banks, can only contribute to a promising future for the XRP, and it will take more than occasional market doubts to stop it.
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