What is Ripple XRP and how to buy it
Cryptocurrencies are a form of digital currency that is decentralised, anonymous, and designed to be secure from the ground up. Bitcoin is the market leader, but there are a lot of problems with it, and other coins have cropped up hoping to dethrone bitcoin.
Buying XRP with Paypal has become more and more common
What is Ripple XRP Currency
OK, so we know what a cryptocurrency is, but what is Ripple XRP, and how is it different from other cryptocurrencies?
Ripple is a currency that operates a little differently to bitcoin. XRP is the transactional protocol that Ripple operates on, and Ripple uses a distributed ledger, just lik the other currencies. What sets XRP transfers apart is that the transfers are effectively instant. Typically, there is no confirmation time. Many other currencies have been plagued by slow transfers.
Ripple was founded by Ripple Labs, a company which still backs the currency. Now, however, there is a larger network of developers. Ripple has 100 billion XRP tokens, which all exist, and of which 60 percent are owned by Ripple Labs. This is in contrast to currencies which are mined, and have a fluctuating amount of coins in circulation.
The XRP ledger allows addresses to freeze non-XRP balances, and this is something which could come in handy to allow Ripple to woo regulators. It helps when there is a need to investigate suspicious activity. Some people feel that this feature bucks the trend of what cryptocurrencies are supposed to be about, beacuse it is adding a level of oversight and control to the currency. Sadly, if cryptocurrencies are to be adopted by those in power, and are to be used for important day to day transactions, it may be that they will need to embrace certain regulatory features – and in some ways become the thing they were rallying against in the first place.
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