Review on XRP by erdi yılmaz
XRP (Ripple)
Ripple (XRP) was launched to make large amounts of international money and asset transfers in the banking and financial markets both faster, cheaper and more secure.
The fact that it has both a corporate identity and a central authority has made it a preferred project by payment systems and banks. Many banks and payment systems in the world operate through the Ripple network.
Ripple cannot be mined in any way because at the time the project was implemented, 100 billion XRPs were produced, which is the entire supply. Initially, 40 billion XRPs were released. The remaining part is released by the company piece by piece over time.
Pros
- One of the features that makes Ripple different is that there is no difference between both standard currencies and cryptocurrencies in the transfers made on the network.
- It makes international money transfers very quickly
- It is an attractive system for private companies and banks
Cons
- Ripple is a centralized cryptocurrency. Although it is a blockchain-based system, all transactions made are managed by the company.
- He got into trouble with official institutions due to its central structure
