What is Ripple (XRP)?
Ripple or XRP is an altcoin that is quite popular within the crypto market. It was designed and launched back in 2012 and was an instant hit. The success rate of XRP was so promising that it managed to start its operations on a global level. But then SEC or Securities and Exchange Commission caught up with XRP and its operation in the US was badly affected.
To this date, there is a lawsuit going on between SEC and XRP over the fact that SEC doesn’t claim to accept Ripple as a cryptocurrency and believes it to be a security and for that matter, it needs to be registered through and through to operate within the US. Ripple on the other hand doesn’t think this to be the definite case and thus the lawsuit that is still going on with no possible side merging victorious anytime soon.
It is a little different as compared to Bitcoin because it aims to include the authorities and help them rather than substituting them. Ripple’s blockchain is so comparative and efficient that it is an all-time-ready system that can be incorporated into banks and financial services of the companies just like that. Ripple’s protocol acts as plug-and-play support where anyone can use it to have a more efficient and scalable financial infrastructure.
Unique aspects of Ripple
The only principle of XRP is to do for the world of payments what SMTP (simple mail transfer protocol) has done for the email industry. So, for Ripple, it strokes near home when it comes to providing the most robust blockchain system that is extremely efficient and at the same time scalable. Ripple is trying to make blockchain technology more accessible to people and businesses alike so they can be different financial institutions communicate freely and directly with each other.
Ripple might be the only blockchain out there that supports making payments both in cryptocurrency which is an XRP token and also in the form of fiat currency. This might sound a little odd at first but it is true, you get both options with Ripple. Rippling is the name given to the payment mechanism for Ripple’s Blockchain.
The idea is as interesting as the name is, according to it if an exchange of payment is to take place between two users who don’t trust each other, then a third intervening body takes over to which both the receiving and sending party can trust, just what happens in escrow. This is to ensure the highest possible level of security for the payment transactions taking place on Ripple.
Why should you invest in Ripple?
Ripple’s blockchain has a profound user other than simply facilitating the transfer of digital assets and cryptocurrencies such as XRP it also does facilitate the transfer of fiat currency and information as well in a controlled manner thanks to its transaction protocol.
This makes the security of the transaction taking place rock solid. Ripple has close ties with the global banking sector and this means convenience for the everyday user shuffling to and from the crypto and fiat world. The development team of Ripple is extremely talented which makes up for a stunning blockchain that is perfectly scalable and very neat in what it does which is helping businesses grow and scale to a possible place in mind without thinking of the technological input. These are all some pretty neat reasons why you as an investor should think about investing in Ripple.
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