Review on XRP by Othere Obtentus
Connecting financial institutions for fast and cheap transactions
Ripple is a digital payment platform as well as a cryptocurrency (XRP). It is an open source, a decentralized payment platform. The Ripple framework seeks to help clients pull away from the inconveniences of payment and finance networks , i.e. banks, PayPal, credit cards and other financial services that charge for currency exchange and limit accessibility with those charges.
Ripple is a digital currency which wants to coordinate banks throughout the globe to promote international transfers and payment solutions. Ripple already received some criticism in the blockchain community as it seeks to support banks when the bulk of several other cryptocurrencies, such as Bitcoin, wish to undermine banks.
Ripple 's key distinctions as contrasted to other cryptocurrencies derive from the peer-to-peer-based framework that facilitates transfers. it's significantly faster than many of the other cryptocurrencies, with regular transfers requiring not upwards of two to three seconds. Several other transfers in the crypto space have been found to take fifteen minutes to an hour.
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Pros
- Access to multiple networks
- Speed
- transparency of transactions
- low cost
- Reputable team and world class industry partnerships
Cons
- Lot of controversy
- Very large supply
- Centralization
