Ripple

Rippel is one of the most outstanding cryptocurrencies of the last year 2017, we leave you all the information about thisRipple
very interesting cryptocurrency for investment and purchase, in what remains of this year and in 2018.

Glossary of the content of the article:

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What is Ripple?

Ripple is a cryptocurrency based on free software that aims to offer a credit system from partner to partner.

Each node of this cryptocurrency functions as a local exchange system, which means that the entire system as a whole forms something like a decentralized mutual bank.

In other words, Ripple works as a social network service based on trust between people who are part of the network.

Given its nature based on the trust and honor of those who use this service, it could be said that Ripple’s financial capital is supported by social capital.

The Ripple network could function as an extension of the current banking system but with alternative payment routes without having to go through the central bank.

What are the main features of Ripple?

Among the features of Ripple we can highlight some of the main ones, such as:

  • Ripple is based on Bitcoin technology , and offers an alternative that could revolutionize the system of operating among banks, reducing their operating costs and offering them instant international payment services.
  • It offers access to an interbank network in which to make transactions faster.
  • Ripple uses ripple technology , which consists in freeing up money so you do not have to depend on banks, credit cards, or any other means.
  • It offers instant settlement in transactions , regardless of where the money is sent, and allows you to make up to 1,000 transactions per second.

Ripple is another of the cryptocurrencies that are giving much to talk about, and the one that a priori is more interesting to the banks, for some of the reasons that we have mentioned at the beginning.

Ripple could be a good alternative for the future.

Read our article on how to mine cryptocurrencies

How did Ripple emerge?

To put ourselves in a position, let’s clarify some basic points:

  • Monetary systems are based on obligations between participants, so both coins and banknotes would be government obligations
  • The loans would be the borrower’s personal obligations
  • Bank accounts bank obligations
  • Each obligation has a value and the owners have confidence in receiving that value

The banking network would be a trusted network and when making a payment the method would be this: the ownership of bank obligations is transferred electronically over a chain of banking system accounts, from the payer to the collector.

It is a hierarchical network and banks function as intermediaries between clients, in the same way that central banks are the intermediaries between banks.

According to this it is easy to establish a payment route between the participants, but there are points where there are faults.

That’s where Ripple would enter, looking for the opportunity to generate income as he did in his day, and continues to do so, the social network Facebook . It would be the closest thing to a marketing network.

In Ripple, the key would be to route payments through trusted, open and arbitrary networks.

As an advantage, it would not take any institution to make decisions about monetary policy. In this case, each and every one of the participants would make decisions democratically.

Among the principles of Ripple we must emphasize the improvement to the needs of the community, without the need for hierarchies that control the participants.

It should be noted, however, that its protocol does not impede hierarchical payment structures, although it allows for other types of structures that may be more beneficial for system participants.

If we had to compare Ripple with other alternative monetary systems, we could say that Ripple is different because it treats all its participants in the same way.

Each node of Ripple would come to be like a system of local change in itself. In addition, one could get to use how a system to connect traditional and alternative payment systems in a single network.

Ripple has a lot of potential , and it’s interesting to know more about the subject.

Read our article on how to buy, sell or transfer Ripple

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