{"id":1171,"date":"2018-07-01T11:13:15","date_gmt":"2018-07-01T10:13:15","guid":{"rendered":"http:\/\/www.wasteyourtime.co\/?p=1171"},"modified":"2019-09-06T16:25:38","modified_gmt":"2019-09-06T15:25:38","slug":"ripple-all-about","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2018\/07\/ripple-all-about\/","title":{"rendered":"Ripple – All You Need To Know"},"content":{"rendered":"

1 min read<\/span><\/i><\/p>\n

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\nActually, I have something to admit. For me, <\/span>Bitcoin<\/b> remains<\/span> the king <\/b>of the cryptocurrency, especially when it comes to increasing prices and media attention. But there are other pretenders on the throne. and one of them is <\/span>Ripple.<\/b><\/p>\n

What is it,<\/i><\/b> what is the difference from Bitcoin and why many do not recognize it as a cryptocurrency?<\/span><\/p>\n

First of all, it should be explained that <\/span>Ripple is not <\/b>a <\/span>cryptocurrency<\/b> in the usual sense of the word. In fact, <\/span>this is a settlement system<\/b> that has become a faster, more transparent and secure alternative to the existing ones (for example, for the SWIFT system used by banks).<\/span><\/p><\/blockquote>\n

XRP,<\/b> the so-called <\/span>Ripple coins<\/i><\/b> is used to facilitate transfers in different currencies. In existing settlement systems, the basis for the conversion is usually a USA dollar. That process is associated with additional costs and lasts for a long time and bank transfers between countries, often last up to 3 days.<\/span><\/p>\n

Converting payments to XRP instead of dollars, the system saves inventory costs, and transaction processing takes a few seconds.<\/span><\/p>\n

Many banks have shown interest in the new system and have already tested or implemented applications based on it.<\/span>
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