Ripple today is one of the most “mysterious” coins of the cryptocurrency market. Its initial cost jumped more than 20 times, then to fall again. And there is an explanation for this. The technology of this altcoin is built on the so -called payment gateways. Unlike the traditional blockchain crypto -shred for most, such gateways facilitate and accelerate the transfer of funds between participants. Therefore, Ripple is of great interest for banks. And has already been used by many credit and financial institutions for transactions. And their number will only grow.
May take -off XRP
What is XRP?
In contrast, all of the same bitcoin, the creators of RipPis do not use mining. They immediately released 100 billion. coins and distributed between participants 35% XRP. Each transaction writes off from the wallets of those who spent it 0.00001 XRP. These commissions burn and do not return to the system. That is, a deflation model is used that increases the physical value of the coin after each transaction.
The creators of this cryptocurrency and its work in the case of a cyber attack on the network using a package of transaction transactions thought out. In this case, the price of the issue will increase. Simple participants in the system will not notice this. And for attackers, it will become very overhead.
No less important is the technology for working nodes of RIPL inside the network. In case of increase in the number of transactions through one of them, its size will increase. The node itself can be provided not only by its own coin, but also with other alcols, fiat money, and even gold.
History of development
The history of the formation of this cryptocurrency originates in 2004. This date of creating a payment and transfer system Ripplepay. Her first version was published a year after education. She was pretty good success and acquired a whole team of developers. Who in 2011 decided to transfer her work on the basis of a decentralized network.
Ripple coins
Everything is known that Bitcoin was created as an alternative to fiat money and the entire modern economic system. But it has several disadvantages. One of which is the low transaction speed. After all, for its conduct, the transaction must be confirmed by the necessary number of participants.
Recently, the Bitcoin network and other popular cryptocurrencies have been very overloaded and transactions are late. RIPL Cryptocurrency solves this problem. Its technology of payment gateways allows you to make instant and safe transfers between the participants in the system.
Ripple Labs was created five years ago by its director Chris Larsen from the subsidiary of Opencoins. Its activities were the development of cryptocurrency technologies with practical applications. The first bank who adopted the company’s technology was Fidor. The conclusion of the contract with this Munich bank at once increased the capitalization of cryptocurrency. Immediately after the announcement of this news, XMR by capitalization bypassed silver of the cryptocurrency world – Litecoin. Today this indicator is 2961872.$ 45
The following achievements were joint projects with Western Union and the largest Australian bank Commonwealth. Not so long ago, the owners of this decentralized system signed an agreement with one of the most significant banks in the Middle East – Al Rajhi Bank.
Chris Larsen – CEO Ripple Labs
Ripple periodically attracts large investments and increases its capitalization. Today, giants such as Google, SBI Holdings, Santander, the Royal Bank of Canada, Bank of America, UNI Credit, Merill Lynch and many others are noticed in the investors of this company. The number of banks using the technologies of this cryptocurrency is growing and with each new credit and financial institution of this list increases the cost of token.
Forecast for 2018
What will happen to this cryptocurrency in the new year, we will soon learn. It all depends on the general trend of market development. But out of the first dozens of popular altcoins, Ripple has great potential. And even if the market of cryptocurrencies collapses, then the technologies that RIPL possesses are not where. So they will be used further. Therefore, investments in this project in the long run can lead to good income.
It is also worth noting that the development company is working in the legal field, and among the board of directors, rather authoritative financiers were noticed. The only possible threat of this cryptocurrency comes from hackers. If they manage to hack the network, then the trust of investors may shake. True, they have not been able to do it yet. But the specialists of the Chinese Cybersecurity Organization Cert have already indicated possible weaknesses of the Ripple network.
How and where to buy XRP
At the moment, this token is quoted on several exchanges. One of the best and most convenient for buying services is Bitfinix. In addition to this cryptocurrency on this exchange, you can purchase other popular cryptocurrencies from Bitcoin to IOTA.
Buying on the Bitfinix exchange
Registration on this service is very simple. But to use its full functionality, it is necessary to go through the verification procedure. And use scans of a passport for this. The passport of a citizen of the Russian Federation is not suitable for this.
After creating an account, you can proceed to the acquisition of XRP. But first replenish your wallet. If you are not verified, you can replenish the account only in cryptocurrency. Fiat money is closed for you.
Now you can proceed directly to buying a coin:
Tokens can be left on the exchange. But for security purposes it is better to get out. The best Ripple wallet is Gatehub. This is an official online storing coin storage of this altcoin. Register on this service. After that, indicate the storage address from this wallet when you get out the cryptocurrency.
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