Review on XRP by Jerry Siegel
XRP (XRP)
If you are in the crypto space, you probably heard about Ripple. Let's dive in what they are all about.
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Ripple been around for some time, longer than many, actually. Starting from 2012, they are trying to create fast and reliable global payment system. They've been very good with establishing partnerships with some of the prominent financial institutions around the world.
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Ripple is flawed by design: they are positioning themselves as cryptocurrency, but really what they offering is some kind of advanced banking system. They are missing the whole point of cryptocurrencies. Reason is simple - their supply is centralized. Ripple has a fixed supply of 100 billion XRP and most of the supply belongs to the owners. So be careful with that.
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About the price of XRP. Everyone in the community knows, that XRP moons when nobody believes in it. The price skyrockets only in the "disbelief state". But that I can say about many cryptos, so there's that.
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There's also some interesting history between Ripple and Stellar (XLM). In 2014 Jed McCaleb (one of the Ripple founders and ALSO founder of MtGox) decided to start his own improved version of Ripple called Stellar. Read more in my Stellar review.
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Pros
- Good and effective public relations (PR)
- Been around for long time (since 2012)
- Fast and secure transactions (way faster than BTC and ETH)
Cons
- Centralized supply, community disbelief
- Not really a cryptocurrency, more of a bank 2.0
