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After the new high of the XRP cryptocurrency , Ripple CEO Brad Garlinghouse on Bloomberg explains the difference between ripple's technology and the bitcoin's one , and how it can overcome the bitcoin's blockchain with it's high speed transactions and lower fees .
Is 2018 , the year of Ripple ?
Further reading :
What is Ripple ?
Ripple 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.
What is XRP ?
XRP is the native currency of the Ripple network that only exists within the Ripple system.XRP are currently divisible to 6 decimal places, and the smallest unit is called a drop with 1 million drops equaling 1 XRP. There were 100 billion XRP created at Ripple's inception, with no more allowed to be created according to the protocol's rules. As such, the system was designed so XRP is a scarce asset with decreasing available supply. Not dependent on any third party for redemption, XRP is the only currency in the Ripple network that does not entail counterparty risk, and it is the only native digital asset. The other currencies in the Ripple network are debt instruments (i.e. liabilities), and exist in the form of balances. Users of the Ripple network are not required to use XRP as a store of value or a medium of exchange. Each Ripple account is required, however, to have a small reserve of 20 XRP (US$6.58 as of May 16, 2017). The purpose for this requirement is discussed in the anti-spam section.
