Ripple: The platform that dared to break down the barriers of money
Ripple is a platform whose main objective is to free any type of money, whether this money is decentralized or fiat. Concerning, it is also a currency converter (Exchange) on a world scale. Ripple was not created to ethically question currency types, it was simply based on Blockchain technology to become the great solution in the world’s monetary transfers. All this in a reliable, transparent and profitable (almost free).
It is important to note that Ripple is not a decentralized cryptocurrency, since it is controlled by the OpenCoin company, an organization that uses the Ripple as a vehicle currency to make its transfers to many countries. An asset that is in the game like any other currency (cryptocurrency or fiat), and it is doing well, because although it is not listed as high, the financial entities that support it make it very stable, and it also promotes that today April 6, 2018, be the third cryptocurrency with the highest market capitalization with $ 18,411,642,676 and a unit value of $ 0.470952.
It has a great support as organizations and financial institutions such as American Express, UBS, BBVA and Santander, among many others, are members of this platform.
Another point that we can not miss is that the technology of this platform does not skimp on performance and scalability, according to the web portal Xataca, in its section: “Private, fast and multi-currency transactions” with respect to Ripple details:
“On the official website of Ripple managers explain how the speed of transactions is one of the great advantages of the protocol and cryptocurrency. While the traditional bank transfers are around-according to Ripple-the 3–5 days to complete, a BTC operation takes an hour or more to complete, an ETH operation takes 2 or more minutes, but with XRP an operation is completed in 4 seconds “
In addition, the number of transactions per second that can be done with Ripple is comparatively much higher than what is related to this segment: Bitcoin offers between 3 and 6 transactions per second, while ETH offers about 15 transactions per second. XRP offers 1,500 transactions per second, and according to its creators, you can get up to 50,000 transactions for example in the Visa protocol.
In conclusion, Ripple seeks financial institutions around the world to join their platform, so that in turn these banks can transfer them instantly and almost free to all their customers, of course, the Ripple cryptocurrency is the vehicle, all this with the addition that any citizen of the world can have access to a cryptocurrency that is at stake in the different types of world economy, without a doubt, this proposal offers a win-win situation.
Its target in the first instance, are financial entities around the world, because that is the essence of Ripple, be an interconnector of all currencies and payment methods worldwide, followed by companies that need to optimize their purchase-payment transfers in an immediate way, almost free of charge, and with a capacity of 1,500 transactions per second.
A cryptocurrency that is also aimed at an audience that does not believe in ideologies of any kind with respect to the financial and economic sector, an open, free and pragmatic public, “what works and is ready”. So users who use decentralization as a shield are not the target of the Ripple, because Ripple is not only a cryptocurrency controlled by the OpenCoin company, but also, in some way negotiates with the fiduciary currency, so Ripple It could be called the “diplomatic” cryptocurrency.
Ripple is also aimed at customers and has inhabitants, both cryptocurrency and the fiat currency who wish to access a solid, stable and secure currency, why? simply Ripple is not looking to compete with anyone, just wants to be the great solution for all the financial systems of the world, to do for all forms of money what the Internet did for all forms of information.
By Marcelo Durán / Bitdharma
