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What is Ripple (XRP)?

May 10, 2018 By admin_coin

What is Ripple Crypto Currency?
What is Ripple Crypto Currency?
A brief description of Ripple.
Ripple’s distributed financial technology allows banks to efficiently transact with other banks to settle transactions in real time. An alternative to today’s global payment infrastructure, Ripple eliminates time delays and ensures certainty of settlement, resulting in lower transaction costs for banks and their customers and unlocking new revenue opportunities

Ripple Video

The purpose of Ripple 

Low cost Interbank money transfers, Fraud resistant, Easy tracable transfers

Ripple Abstract

While several consensus algorithms exist for the Byzantine Generals Problem, specifically as it pertains to distributed payment systems, many suffer from high latency induced by the requirement that all nodes within the network communicate synchronously. In this work, we present a novel consensus algorithm that circumvents this requirement by utilizing collectively-trusted subnetworks within the larger network. We show that the “trust” required of these subnetworks is in fact minimal and can be further reduced with principled choice of the member nodes. In addition, we show that minimal connectivity is required to maintain agreement throughout the whole network. The result is a low-latency consensus algorithm which still maintains robustness in the face of Byzantine failures. We present this algorithm in its embodiment in the Ripple Protocol.

More information can be found in the Ripple whitepaper https://ripple.com/files/ripple_solutions_guide.pdf

Other Ripple facts

  • Trading symbol: XRP
  • Governance: Centralized > Hierarchical
  • Open source: Yes
  • Product status: Fully working product
  • Consensus method: Proof of stake
  • Emmission rate: Emitted in proportion to amount of network activity
  • Transactions per second:  n/a
  • Total Supply: 100,000,000,000
  • Release date: 2013-04-01

Usefull Ripple links

  • Ripple’s Website
  • Ripple pricing data & fundamental Ripple information
  • Ripple’s Website
  • Ripple official blog
  • Ripple’s Bitcointalk Forum
  • Ripple’s Reddit Forum
  • Ripple’s block explorer
  • Ripple’s Alexa site stats
  • Ripple’s official forum: https://forum.ripple.com/
  • Ripple’s Github code repository:
    https://github.com/ripple/rippled
  • Ripple’s roadmap:
    n/a
  • Ripple’s team page: https://ripple.com/company/leadership
  • Ripple’s whitepaper: https://ripple.com/files/ripple_solutions_guide.pdf

Filed Under: Ripple Tagged With: Altcoin, Crypto, Currency, What is?, XRP

Other questions related to this cryptocurrency:

  • Is Ripple (XRP) Centralized, Decentralized or Semi-Centralized?
  • What is the Consensus method of Ripple (XRP)?
  • All available information on the Ripple (XRP) ICO
  • How can I contact the Ripple (cryptocurrency) team?
  • Who is leading Ripple (XRP) crypto?
  • Where to find Historical trading info and past performance on Ripple (crypto)?
  • Where can I find fundamental analysis of Ripple (XRP)?
  • How to buy Ripple (XRP) cryptocurrency?
  • What is Ripple (XRP)?

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