What is Ripple ?
Ripple is a cryptocurrency, which gets mostly used by banks and financial institutions.
Many people say that XRP is the bitcoin for banks and financial institutions. The advantage of Ripple: it is much faster and more scalable.
While Bitcoin can process 3-6 transactions per second, Ripple processes approximately 1.000 transactions per second.
Therefore, Ripple allows the exchange of digital goods in real time. It can avoid the traditional banking-system’s fees and wait-times, and any type of currency can be exchanged (USD, Euros, Yen and more). The performance is comparable to that of credit cards.
Financial institutions, such as the UniCredit Group, UBS, Santander or the National Australia Bank already use Ripple.
History – Ripple Info
Founded: 2012 by Chris Larsen and Jed McCaleb, Ripple Lab in San Francisco, California
– September 2012: foundation of the OpenCoin Inc. (developer of the Ripple-protocol)
– September 2013: OpenCoin Inc. changed its name to Ripple Lab
– October 2013: Ripple cooperates with ZipZap (technology-platform for moving money around the world)
– 2014 and 2015: Ripple cooperates with big players like the UniCredit Group, Western Union, UBS, Santander or the National Australia Bank.
– 2015 and 2016: Ripple (company) expanded with the opening of offices in Sydney (Australia), London (UK) and Luxembourg