Review on XRP by lala frehan
XRP, banks friendly crypto
Unlike Bitcoin, Ripple does not seek to eliminate intermediaries and, more precisely, banks. In fact, these are the banks that make up its largest users! Ripple's goal is to make international payments faster, cheaper and clearer. Ripple intends to solve the problems of international payments and transfers.
XRP digital currency is completely different from Bitcoin and ethereum. Bitcoin is just a digital currency, and ethereum is just a platform for smart contracts. But Ripple is the infrastructure for international transactions. This digital currency was introduced in 2012 by Ripple Labs.
Another difference between XRP digital currency and other cryptocurrencies is the type of creation and circulation. For example, new bitcoin currencies are created by miners or miners. However, all 100 billion XRP currencies have been created and circulating since the beginning of Ripple's work. Another highlight is the maintenance of about 55 billion XRPs by Ripple Labs itself. This contradicts the decentralization of the digital currency world.
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Pros
- Because the project does not seek to remove banks from transactions, many large international companies accept it.
Cons
- not decentralized, many people who use cryptocurrencies are looking for a decentralized network
