Review on XRP by Micheal mahri
XRP by ripple
The Ripple platform is a text-based protocol designed to perform fast and inexpensive transactions. Instead of using a blockchain mining system, Ripple uses a consensus mechanism through a group of servers to verify its transactions. Ripple transactions are confirmed in a matter of seconds and cost very little (compared to Bitcoin, which takes longer to confirm and includes higher costs). Ripple certainly intends to dominate all international transactions around the world. This platform not only has its own digital currency, the Ripple (XRP), but also allows everyone to create their own digital currency on RippleNet through this platform.
XRP is a token that is used to transfer value through the Ripple network. The main purpose of XRP is to mediate for other exchanges, whether cryptocurrencies or fiat currencies. XRP is a technology that acts as a cryptocurrency and a digital payment network for financial transactions.
XRP is a protocol that is open source and, in fact, a peer-to-peer distributed distribution network that is used, especially in banking and finance. The technology was first launched by Chris Larsen and Jed McCaleb in 2012.
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Pros
- It is almost counterfeit
- In its final stage, it can act as the global translator of any currency
- Easy connection of payment networks
Cons
- Although Ripple has made positive changes, the company has often been criticized for its various business practices. The company said it would transfer a large portion of its XRP digital currency to network users, but so far only small amounts have been transferred.
