Ripple Currency is Growing Up
2017 was one of as the most critical years for Bitcoin, other cryptocurrencies and Blockchain technology. The Ripple Currency is a global system that allows you to transfer almost any currency to any part of the world in a matter of seconds.
It is true that Bitcoin was one of the more popular cryptocurrencies last year but because of the Blockchain technology, cryptocurrencies like Ripple are becoming fast movers simply because they run on the Blockchain.
Why Has The Ripple Currency Grown Up?
Ripple focuses on working with banks, offering them a more efficient and economical way to send remittances in real time around the world.
Thanks to the platform, they can save an average of $3.50 in each transaction. By making thousands or even millions of sales per year, this is a very significant saving.
You must understand, If something is capable of attracting the focus of banks, it is a technology that potentially can compete in the market and ultimately save you money.
Brad Garlinghouse runs Ripple, but David Schwartz, the lead cryptographer, manages the technological side of the business.
The Ripple team is continually improving its algorithms and looking for an international approach to banks. The company strives to simplify remittances between countries and organizations. Ripple developers say that their network has several advantages over Bitcoin as a global payment system.
It is true that Ripple transaction speeds are significantly lower than those of Bitcoin. Ripple transactions are around three seconds.
While Bitcoin is expensive to trade and has grown enormously as public interest, speculation and private investors increase, Ripple’s fastest network has potential practical uses.
As a currency network it generates partnerships and tests with Banks such as American Express, Santander, and UBS.
Some Other Facts About The Ripple Currency.
The rise of Ripple seems to be a “ripple effect” from the increased interest in Bitcoin. Investors that think that the cryptocurrency has great promise.
The company has seen some notable milestones in the past few months. In 2017, the Ripple XRP has seen its value jump more than 7,000% and its market capitalization increased by almost 7,700%.
The sudden increase in Ripple’s price had doubled to about $2.20 as of the first week of January. That is a big increase from December when it was at 25 cents.
This growth trend may also be due to the increased supply of its cryptocurrencies to investors. Similarly, Ripple also recently announced pilot plans with credit card companies.
In general, there are around 38 billion Ripple units in circulation, compared to only 16.7 million Bitcoin. Unlike bitcoin or other cryptocurrencies Ripple cannot be mined.
It is already “pre-mined,” which means that when it was developed some coins were created. At this time 38,739,144,847 XRP are in circulation. Some of those who support alternatives such as Bitcoin has criticized that choice.
The Ripple Currency has some amazing features and it is positioned to be a great investment choice this year. I have it on my Altcoin List for 2018.
Here is some recent news about Ripple and its recent increase. Do you currently own Ripple or any other cryptocurrency? Even though some of the cryptocurrency prices have fallen a bit as of late many others have seen a significant increase.
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Please share your thoughts below on the ripple currency. Do you have any plans to invest in cryptocurrencies in the near future?