What is Ripple (XRP)?
Ripple XRPIt is the base currency of the Ripple network, it can circulate in the entire ripple network, the total amount is100 billion, And gradually decreased with the increase of transactions. Ripple's operating company is Ripple Labs (formerly OpenCoin).
Ripple is different from other currencies in the ripple system. Other currencies such as CNY and USD cannot be withdrawn across gateways. In other words, the CNY issued by gateway A can only be withdrawn at gateway A. If you want to withdraw at gateway B, you must use the ripple system Only then can you withdraw cash from gateway B when the function of pending orders is converted to the CNY of gateway B. Ripple has no restrictions in this respect, and it is universal in the ripple system. As an intermediate currency, Ripple can transfer money freely between the payer and the receiver using different currencies, as long as the two parties trust a gateway together.
Ripple (XRP)Like Bitcoin, it is a digital currency based on mathematics and cryptography, but unlike Bitcoin, which has no real purpose, XRP has the main bridge currency and security functions in the Ripple system, among which security functions are indispensable. Yes, this requires that all gateways participating in this protocol must hold a small amount of XRP. Like Bitcoin, the Ripple network is also a shared public database, and it is also a global general ledger. The consensus mechanism allows all computers in the Ripple network to automatically accept updates to the general ledger information within a few seconds without going through the central data exchange center. This processing speed is a major breakthrough for Ripple in engineering. It means that Ripple's transaction confirmation time is only 3 to 5 seconds, while Bitcoin takes 40 minutes.
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**This article is not investment advice**