Ripple is a protocol that has its native cryptocurrency. The platform represents an open-source protocol that is intended to allow for quick and cheap transactions.
The cryptocurrency that the platform uses is called XRP. It is one of the veterans in the space, and since 2014 it’s showing up consistently among the top cryptocurrencies by market cap.
Unlike the majority of the cryptocurrencies, Ripple doesn’t really have a blockchain, per se. Instead, they use their own patented technology called the Ripple Protocol Consensus Algorithm (RPCA).
The average transaction time for Ripple is a lot less than that of other major cryptocurrencies such as Bitcoin and Litecoin. This allows for quick international transactions, and that’s where the company places its focus – to be used as a medium of exchange for international and cross-border payments. This is why the company has entered into a few partnerships with some banking systems. Among the banks that work with Ripple include Santander, Rendimento, and Interbank.
Naturally, there are also some downsides to Ripple, mainly stemming from the fact that it is centralized, which goes against a lot of what cryptocurrency proponents stand for.
Can Ripple’s financial strength outweigh Coinbase’s history with Circle in the race to acquire the stablecoin issuer?
XRP is down to $2.4 after the news went out.
Here are some of the latest developments involving Ripple and its cross-border token.
The deal represents a 60% reduction from the initial $125M penalty while securing the return of $75M in escrowed funds…
A $3.40 peak in February saw XRP's Q1 performance deliver 50% quarterly gains while rivals dipped or stagnated.
The Bloomberg report said the bid was worth somewhere between $4 billions and $5 billion.
The new dates are for mid-June but experts suggest there might be even more delays.
ProShares brings $60B in asset management experience to XRP with these ETFs, marking a significant step for institutional adoption.
XRP, SOL, and ADA are among the well-known altcoins deemed securities in the case.
HashKey’s new fund, seeded by Ripple, will give institutions exposure to XRP , with no wallet or direct trading required.
