How is Ripple different from bitcoin?
The Ripple coin and the Ripple Network have been built with slightly different purposes in mind, and it’s worth considering whether they provide advantages over bitcoin.
Fast and cheap
Ripple transaction processing only takes four seconds since it’s significantly less active compared to bitcoin. This has the added bonus of cheaper transaction fees, whereas the price for bitcoin transactions has been on the rise lately as more people adopt the platform.
Mining-free
All the 100 billion XRP that it’s possible to use on the platform already exist. While they’re not all on the market – a few are released into the market every month to avoid flooding – there is no use mining as there is nothing of value to be added, unlike in more traditional cryptocurrencies.