The Ripple currency exchange platform is a major league factor amongst cryptocurrency giants such as Bitcoin and Ethereum. It was originally founded at 2004 by web developer Ryan Fugger, initially releasing its XRP currency to open source internet protocol in 2012. What makes it one of the strongest, most solid members of the pack?
The uniqueness of this transaction protocol lies on the fact that it’s shared ledger, its public data base. That is adopted mainly by financial institutions such as banks and credit companies, which prefer such infrastructure technology as the distributing payment network of choice. This fact presents a valuable advantage of Ripple over other powerful platforms like BTC and Ether.
The big wave of Ripple advancement towards ruling blockchain`s top threesome pyramid had begun when Ripple labs released, back in 2014, their development for IOS clients in form of an iPhone app. This app enabled users to perform transaction using cryptocurrency via smartphones. Following to that, Ripple has created its own “smart contract system” which allows cross border payments enjoying lesser bank fees. Moreover, the Ripple open source infrastructure has developed advanced tools and computerized processes which can be embedded onto financial institutions` own systems, allowing fluent communication and transactions between one another, directly and transparently.
Ripple`s Believe It or Not
Last December had stationed Ripple`s market capitalization at about 18$ billion. Combined with XRP low purchase cost of approximately 1.33$, Ripple showcases a higher affordability factor than other alternatives such as Litecoin token. As blockchain industry surging rapidly, this XRP token is heading up the stairs. With over 100 banks joining Ripple`s licensed blockchain technology in 2017, and a recent successful joint venture with American Express regarding trackable payments made between USA and the UK, this exchange trading system is here to deepen its grip.
The secret of Ripple`s increasing rise depends on its self-sufficient technological development and XRP`s market strength. They don’t call it “strategic weapon” for nothing.