Ripple is the name of a p2p payment network with its own flexible digital currency, the XRP. Ripples or XRPs provide the network with the required liquidity within complex financial transactions and serves as a bridging currency for simplifying complex international payments between financial institutions in particular.
Financial institutions such as investment banks will save a lot of costs by using the Ripple network. Ripple’s ambition is to break open the closed financial networks of payment cards, major banks, Paypal, Skrill and other financial institutions and to eliminate all unnecessary costs such as currency conversion costs, waiting times and restrictions and to connect all financial key points to the Ripple network.
The Ripple network with the XRP crypto currency is a much better network alternative for Bitcoin for financial institutions. Ripple is technically better set up as a scalable payment network in many respects than Bitcoin and also Ethereum. Ethereum is especially interesting for the development of decentralized applications based on smart contracts. The Ripple and Ethereum block chains are therefore the most used by major financial institutions and smart big banks. They will use the Ripple network and XRP more and more to process international payments faster, easier and cheaper. Two important facts:
The XRP ledger can now process 1500 transactions per second. Bitcoin supports ~ 15 transactions per second.
The XRP transaction costs are measured in a fraction of a cent. The transaction costs for processing Bitcoin payments are much more expensive.
At present, 15 of the 50 most important major international banks are already using the Ripple network. Moreover, a deflationary monetary policy will be pursued and a definitive XRP limit will be introduced. This makes Ripple a very interesting investment!
Check hier het laatste nieuws over Ripple