Review on XRP by Temitope Babatunde
XRP More Than Ordinary Crypto
It is a US based technology company that is named Ripple was the who developed XRP, the main reason for its development is to improve cross-border payment transfer, by reducing the time and the transaction fees. When using bank and other means of transferring cash across the boarder it use to be great problem because of the time and the fees involved.
SPEED
With XRP it will only take an average of 4 seconds to transfer an asset, it is scalable being able to perform 1500 transactions per second.
SUSTAINABILITY
The total number of XRP that will ever be in existence has been produced once, so it is not mineable. It provide responsible software governance. It has a market cap of
PURPOSE
XRP has real world usage which is not the case for cryptos. The company behind XRP aims at making it the standard for cross border payments
BRIDGE BETWEEN CASH AND
While so many people believe that crypto will replace cash one day, but it is not the case with Ripple, they believe that with XRP what is lacking in cash transactions can be compensated for with crypto thereby making them closer and support each
XRP is currently the third cryptocurrency in terms of market cap behind Bitcoin and ethereum, and is being traded in most of the exchanges.
Pros
- It is a very fast means of transferring money
- It is cost effective
- It has real world usage
Cons
- Because many people have not known about cryptocurrencies, it's adoption is slow.
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Comments (2)
May 15, 2020
XRP is the third cryptocurrency in terms of market cap behind bitcoin and Ethereum. XRP was developed by a US based technology company called RIPPLE. XRP was developed to improve cross border payment transfer by reducing the time and transaction fee
May 14, 2020
XRP price provided in USD, but you can easily switch the base currency to Euro British pounds, Japanese yen,and Russian Roubles. Unlike most cryptocurrencies out there that cater to peer to peer needs ,it was made to connect banks, payment providers and digital asset exchange, enable real time settlement expenditure and lower transaction fees
