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Last month, the cost of XRP climbed to a record for the entire history of its values - nearly $ 3.8, thus pushing Ethereum out from the second place. The market value of Ripple exceeded the similar indicator of such technology companies as Uber and Didi Chuxing. At that, the initial price of the token was less than a cent.
For a long time, XRP has traded slightly above the $ 0.20 level, attracting a flurry of criticism due to the large volume of emissions and the low practical applicability of the crypto currency token, despite the obvious advantages of the solutions being developed by Ripple for the banking industry. Recently, these problems began to disappear, which, in turn, pushed the crypto currency’s rate. The startup’s management decided to freeze its 55 billion XRP, which allowed to increase the confidence of investors in this asset.
However, the growth rate was short-lived. Together with Bitcoin and other crypto-currencies, Ripple found itself "in the red zone" and cannot get out yet. CoinDesk notes that the Ripple rate in January grew, including on rumors about the addition of an asset to the Coinbase platform. Later, Ripple's capitalization fell by $ 30 billion.
At the time of writing, one XRP token cost $ 0.7 (minus 80% of the historical maximum). Capitalization of XRP by the same time is about $ 34 billion, although at a peak the figure reached $ 138 billion.
Ripple itself cannot be called a crypto currency. This is a platform for payment systems, aimed at including integration with the banking infrastructure. The block is built on a distributed Internet protocol with open source code, a consensus register (ledger) and its own crypto currency XRP.
Launched in 2012, Ripple aims to provide "safe, instant and almost free global financial transactions of any size without refunds." It supports tokens representing a currency, a crypto currency, a commodity or any other unit of value, such as miles of frequent flyers or mobile minutes.
The Ripple platform allows users to carry out payments between themselves using cryptographically signed deals denominated in hard currency or XRP crypto currency. Transactions with XRP use the internal registry, and for payments expressed in various assets, the cryptocurrency register only records the amounts of debt with assets as debt obligations.
Last year, Ripple announced creation of the first interbank group of international payments based on distributed technologies. As of April 2017, the members of the network known as the Global Network for Payments of the Management Group (GPSG) are the Canadian Imperial Bank of Commerce, Bank of America Merrill Lynch, UniCredit, Mitsubishi UFJ Financial Group, Standard Chartered, Royal Bank of Canada, Santander and Westpac Banking Corporation.
In its essence, Ripple is based on an open shared database or registry that uses the reconciliation process, which allows making payments, exchange and transfer of funds in a distributed process. Unlike ether and bitcoin, XRP mostly belongs to Ripple. Ripple Labs, the company that manages the Ripple network, created all the XRP coins. For this reason, Ripple is often called "pre-mined", and in the digital community it is treated with caution, apart from real crypto currency.
source: coindesk.com
For a long time, XRP has traded slightly above the $ 0.20 level, attracting a flurry of criticism due to the large volume of emissions and the low practical applicability of the crypto currency token, despite the obvious advantages of the solutions being developed by Ripple for the banking industry. Recently, these problems began to disappear, which, in turn, pushed the crypto currency’s rate. The startup’s management decided to freeze its 55 billion XRP, which allowed to increase the confidence of investors in this asset.
However, the growth rate was short-lived. Together with Bitcoin and other crypto-currencies, Ripple found itself "in the red zone" and cannot get out yet. CoinDesk notes that the Ripple rate in January grew, including on rumors about the addition of an asset to the Coinbase platform. Later, Ripple's capitalization fell by $ 30 billion.
At the time of writing, one XRP token cost $ 0.7 (minus 80% of the historical maximum). Capitalization of XRP by the same time is about $ 34 billion, although at a peak the figure reached $ 138 billion.
Ripple itself cannot be called a crypto currency. This is a platform for payment systems, aimed at including integration with the banking infrastructure. The block is built on a distributed Internet protocol with open source code, a consensus register (ledger) and its own crypto currency XRP.
Launched in 2012, Ripple aims to provide "safe, instant and almost free global financial transactions of any size without refunds." It supports tokens representing a currency, a crypto currency, a commodity or any other unit of value, such as miles of frequent flyers or mobile minutes.
The Ripple platform allows users to carry out payments between themselves using cryptographically signed deals denominated in hard currency or XRP crypto currency. Transactions with XRP use the internal registry, and for payments expressed in various assets, the cryptocurrency register only records the amounts of debt with assets as debt obligations.
Last year, Ripple announced creation of the first interbank group of international payments based on distributed technologies. As of April 2017, the members of the network known as the Global Network for Payments of the Management Group (GPSG) are the Canadian Imperial Bank of Commerce, Bank of America Merrill Lynch, UniCredit, Mitsubishi UFJ Financial Group, Standard Chartered, Royal Bank of Canada, Santander and Westpac Banking Corporation.
In its essence, Ripple is based on an open shared database or registry that uses the reconciliation process, which allows making payments, exchange and transfer of funds in a distributed process. Unlike ether and bitcoin, XRP mostly belongs to Ripple. Ripple Labs, the company that manages the Ripple network, created all the XRP coins. For this reason, Ripple is often called "pre-mined", and in the digital community it is treated with caution, apart from real crypto currency.
source: coindesk.com
