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Review on XRP by T. RivAngE
By design XRP is centralised for the first few years. Unlike most coins, XRP's…
By design XRP is centralised for the first few years. Unlike most coins, XRP's genesis block had 100% of the total supply available. All these coins were in the control of the developers, Ripple Labs. However the team has decentralised it by a decent level through locking an amount in escrow and selling XRPs to financial institutions, payment portal providers, exchanges and banks, in order to kickstart their xRapid software.
People use to think that if the Ripple Labs company closes, then the currency XRP is doomed. Sure the price would suffer the first days, but it's open source code and it's up to the community to pick it up and continue the work.
Pros
- 1) The fastest and (arguably) cheapest coin for transactions. 2) It's on a constant deflation because XRPs are burned with every transaction, unlike minable coins which produce new coins every day. 3) There's a company with talented developers and salesmen backing this currency, it's not made from unknown scammers or inexperienced college kids like many other coins. People think this is negative, but for serious investors what is required is stability and professionalism. 4) Ledger Nano S support
Cons
- 1) It's not newbie friendly, it's not as simple as "download an .exe file, run it, copy-paste the receive address, ready to receive". 2) You have to "sacrifice" a small amount of XRP for every new address, the amount is currently 20 XRP but this is changeable by the devs and they'll change when the price increases. Instead of creating new addresses, people can use the "tag" property to separate different transactions.
