Ripple

#3
Price: $0.612133
Change(24h):
+ 0.8%
Volume(24h): $383,371,000
Market Cap: $23,989,472,828
A blockchain platform that connects banks, payment providers and corporates. The open payment network of Ripple (which runs the XRP digital currency) allows a wide range of cross-border payments to exchange within the platform at a negligible service fee. Transaction settlement is almost instant. The peer-to-peer basics make it suitable and reliable for both business and other currency transfers, like remittances.

Latest Hight: $0.97

Ripple Markets

# Source: Pair: Price:
1
Bithumb
XRP/KRW
$1.07663887602975
2
Binance
XRP/BTC
$0.7409021088
3
HitBTC
XRP/BTC
$0.7392318264
4
Huobi
XRP/USDT
$0.735832426
5
Kraken
XRP/EUR
$0.744586378772881
6
OKEx
XRP/USDT
$0.73813284
7
Huobi
XRP/BTC
$0.7395834648
8
OKEx
XRP/BTC
$0.740198832
9
Binance
XRP/ETH
$0.7399806924
10
Bittrex
XRP/BTC
$0.7386164592

Ripple makes global payments fast, cheap and easy

  • Launched: 2012
  • Based in: San Francisco, California
  • Founders: Chris Larsen, Jed McCaleb


Ripple is a blockchain-based payment network, which allows a wide range of cross-border payments to be made almost instantly, securely and at very low transaction fees. The platform is designed to connect payment providers, banks, digital asset markets and corporates.

Ripple’s vision is to revolutionize payments through its distributed financial technology that enables banks to directly transact with each other, removing the need from a central authority or correspondent. The Ripple platform originates from 2004, long before the cryptocurrencies boom. Ripple has never carried out an Initial Coin Offering (ICO), but has carried out several funding rounds, attracting renown investors such as IDG Capital Partners, Santander InnoVentures, and SBI Investment among others.

Launched in 2012, Ripple's XRP digital coin has secured a stable place among the top five cryptocurrencies by market capitalization as the Ripple platform gains popularity among both financial and non-financial institutions.

 

Is Ripple the future of global digital payments?

In its initial version, developed by Ryan Fugger in 2004 and launched in 2005, RipplePay was a global online network, offering to its members the possibility to make secure payments. Now, Ripple provides a global network, in which users can send and receive payments of any size in real time with no chargebacks. The platform offers also communication services, storage, verification cleaning registers, etc. It also provides a blockchain network for banks to exchange information and transact with each other.

The cryptocurrency of the platform, XRP, is not minable, but operates on a “miner-based” methodology with an incentive program for market makers who support the network and help improve the digital transaction environment. A total of 100 billion XRP coins were created in mid-2012, of which only half are presently in circulation. The company keeps the rest in an escrow account and distributes them gradually to the public. This makes Ripple a centralized system, as the company has the option to control its XRP coins.

Connecting financial institutions

Ripple’s main idea is to make XRP a ‘bridge currency’ used by an increasing number of banks and payment service providers to settle cross-border payments faster and cheaper and without the help of middlemen. The Ripple network has more than 100 members throughout the world, including a number of financial institutions like Santander Group, MoneyGram and Western Union that use its blockchain technology to facilitate real-time international payments and remittances. Google Pay is reportedly also preparing to adopt the Ripple technology.

However, most Ripple partners use its blockchain technology, but do not use the XRP coin to as a means of payment for transaction fees, which makes it look more like an investment instrument than a digital payment method.