Big Cryptocurrency family become really famous in the world. With the help of his Canvasser people could earn a small fortune. All sorts of info coins have differenсе not only in their names but in utilized place. Differences also lie in the original creation. As an example we can take cryptocurrency ripple and we can know more why is ripple considered to be a white crow.
Notes from the past.
Financial statistic message us that today cryptocurrency Ripple gets the 2nd place after bitcoin. Its total capital is much more 2 mlrd dollars. It indicates that people trust to this info coins. Facts from the past can explain it.
Developer Jed McCaleb present to the world file-sharing net eDonkey in 2000. In the end of 2006 everybody got acquainted with release of project MTGOX. Mark Karpeles liked a new area of exchanging in-game maps. He could see a basis of future share market for bitcoin. Jed McCaleb agreed to sell it cause of project OpenCoin. Karpeles copied the codе and keep up its monopoly.
Opencoin was completed in 2013. Market must make acquainted with a new infocoin which was distributed by global currency exchange. But creator gave it to team of ripplelabs. They developed it and started an active promotion. After renaming to Ripple cryptocurrency became available to public use.
What’s the difference between Ripple and other cryptocurrencies?
Ripple support any kind of valuable unit. PS has an open code and local currency – info coins XRP. It is fully protected against hacker attacks. Free code. It has about 100 billion coins in use of the system. Registered users have opportunity to open individual currency exchanger. All transaction can be exchanged in contrast to Bitcoin.
As Ripple’s network applies to decentralize group, so transaction’s history of internal wallets is stored. Maining for Ripple’s coins isn’t applicable. They can get it with the help of direct purchase of cryptocurrency or participation in computing processes. But it is not a math computing but processing of useful information of science and medicine.
Principe of working Ripple’s net.
It can be much more clear if we descry an example. Imagine! The end of 19 century, the wild west. Merchant lives in this area. But his friend live across the country. The merchant need to transfer money. How can he do this?
To come personally and give money?
Send to friend travelers? But it can be dangerous
Reach out to a rich businessman who has business in all spots of country?
Yes, this is a correct answer. Merchant gives money to businessman and he send a letter to his assistant. So this assistant gives money to merchant’s friend. That’s it!
The benefits of such a transaction:
• The money got to its destination without leaving and not getting into another location. Physical movement is not marked.
• There is no risk of loss or theft.
• Complete anonymity. So, there is no need in the preparation of the income statement.
It is necessary to pay the entrepreneur with his representative. This point is as follows. At a convenient time for the partners, at a meeting of businessmen in 1000 will give the representative of greenery. Although mutual settlement can occur by means of barter. Instead of money spent representative may ask for an additional shipment equal to the sum of the same or a discount on the next purchase, and so on.
Similarly, can come and each businessman, when it comes to the representative. It can be expected to receive a thousand, and can dial the number of the goods, equal to the equivalent. It is on this principle and works Ripple network of payment systems.
The most interesting is that all these routes of transmission are stored in the wallet data. And Ripple any registered user has access to this information. This approach allows you to choose the most suitable option for each transaction. There is no need to reinvent the wheel.
Author @Anton333
I'm not a fan of Ripple at all - it's so non-intuitive and backed by big business - the crypto-geeks seem to shun it - gimme STEEM anyday!
True it is backed by big business, but it might be big business that gives it impetus to it's use and XRP value...maybe. I think 100-billion coins is a rather large number but curious to see what it does. Just reading it's the 3rd largest cryptocurrency by market cap in the world today.
Solid article. Same thoughts here. The crypto space brings the biggest group of uneducated investors with it. This group will only grow. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). An interesting website I found: https://www.coincheckup.com The site lets you check all there is to know about the team, product, communication transparency, advisors and investment statistics on every crypto. Go to: https://www.coincheckup.com/coins/Ripple#analysis For a complete Ripple Investment and research analysis.