What Is Ripple?
Ripple, in the simplest sense, is a real-time payment system. It allows money to be exchanged between individuals regardless of their locations or their banks.
The digital asset that runs the Ripple network is XRP. When you buy Ripple, you are also purchasing XRP. If you are new to digital currency investing, the best way to think of XRP is as the fuel that powers Ripple.
It is necessary for the technology’s function, but when investing, you will generally refer to XRP as Ripple.
Ripple was introduced in 2012, making it an early mover in the digital currency space. It was also one of the first currencies to have a function outside of being a medium for exchange.
Ripple was developed by an experienced team with deep roots in the digital currency world. Many members of this development team worked with Bitcoin. This included Ripple’s cofounders, OpenCoin CEO Chris Larsen and CTO Jed McCaleb.
Investors considering Ripple need to understand the relationship between OpenCoin and currency. OpenCoin handles many of our digital currency transactions around the world.
OpenCoin, and subsequently Ripple, has received backing from dozens of venture capitalists, including Andreessen Horowitz, FF Angel IV, Lightspeed Venture Partners, Vast Ventures, and Bitcoin Opportunity Fund.
