Ripple – What is it?

Ripple is a payment protocol that is also popularly known as “Ripple Transaction Protocol” or RXTP as well as “Ripple Protocol”.  It was established in 2012 with the mission to provide consumers with a “frictionless” or effortless experience to transact money throughout the world by implementing the efficiency of block chain. They have several renowned offices and bank associated with them (90 at present), covering areas like Luxembourg, San Francisco,  Singapore, India, London, Sydney, New York and so on. Apart from a string of masterminds working behind it, a number of investors like Accenture, Google Venture, and Andreessen Horowitz etc have catered to the growth of this platform for cryptocurrency trading. Online trading has taken a very dynamic turn owing to Ripple’s rapidly growing market strategy, like Bitcoin trading, Litecoin trading and Dash trading. The various aspects of ripple are as follows:

• Ripple expedites transactions and increases stability far more than any other form of cryptocurrency protocol and it also lets Bitcoin establish a connection with other variety of currencies.
• Ripple is a distributed concern and hence, it hardly depends on a singular company for the management and security of the database of transactions.
• There happens to be no sort of “waiting on block” for securing confirmation and thus, execution of confirmations for transaction purposes goes through the network as swiftly as possible.
• As there is the absence of any central or target point to meet with failure being in the system of the protocol, the advantageous position of “peer to peer” facilitates.
• About 100 billion ripples have been created, among which the company has retained half while circulating the rest among the consumers.
• Ripple is not entirely free as it charges a nominal fee (close to one part of thousand parts of a cent) for security purposes. Instead of retaining the amount, it is destroyed so that the system may not be jammed by any individual who plans to invest about a million or more.

Building the future of modern modes of payment with Ripple is extremely prospective; Ripple is very proactive, and it plunges into real problems to solve them as quickly as possible for their customers. Given their “out-of-the-box ideas” and zeal to overcome obstacles, the confusing procedure of global payments has become extremely convenient.  Their ability to solve any problem with creativity and passion is highly praiseworthy.