Ripple Digital Coin is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.
Ripple’s Spot in Financial World
The world’s largest financial institutions including Banks, Hedge funds, American Express are already implementing Ripple’s technology in their Interface which is infact rare in case of the crypto world indeed.
The adoption of Ripple in many e-commerce websites, it doesn’t gaurantee that Ripple’s XRP tokens because the transactional fees are to be paid by using the XRP coins. This clearly depicts that even if there is the hazardous rise in demand of Ripple the prices won’t increase suddenly. The rise in the price will be slow and steady making it the most stable cryptocurrency in the market.
Ripple is one of the more popular cryptocurrencies that can provide everything that Amazon and American Express requires to have in its interface. As many of the banks are already trusting the XRP coins. But it’s difficult to say when as Jeff Bezos hasn’t made any official announcement or initiation.
The Ripple Digital Coin network is decentralized and can operate without Ripple (enterprise), it cannot be shut down. Among validators are companies, internet service providers, and the Massachusetts Institute of Technology.
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