Will Ripple (XRP) become the next Bitcoin?

2개월 전

There is quite arguably no other Cryptocurrency today which has more going for it than does Ripple's XRP. Yet for some unknown reason, the bears seem to come out in full force every time XRP tries to clear the way for a bull run. It is rather clear, I think, that someone has a very strong incentive to keep its price down for the time being. But what about looking forward?

XRP is one of the largest Cryptocurrencies today, taking the #3 position on a list of over 2500 tokens, surpassed only by Bitcoin (BTC) and Ethereum (ETH). Focused primarily on cross-border payments, it is Ripple's goal to change and revolutionize international payments with its solution. 

Some Ripple (XRP) Facts: 

XRP cannot be mined. 100 Billion XRP coins were issued all at once, with approximately 60% of them owned by the developers, and used for the development of Ripple (XRP)  system. A special “smart contract” restricts the developers into using the frozen amounts only in small quantities.

XRP is not based on Blockchain Technology, but rather on a Distributed Ledger system. Servers all around the world are responsible for the ongoing operation of these ledgers or gateways.

XRP uses Ripple Transaction Protocol. The consensus is ensured by a validator – independent node, chosen by the Ripple community. The more votes a node has, the higher will be its status within the network.

What sets Ripple (XRP) appart from other Cryptocurrencies?

High Scalability: The Ripple network’s capacity is much higher than that of other Cryptocurrencies, at over 1500 transactions per second. 

High Speed: Money transfers are almost instant, reaching any point on the globe in approximately 4 seconds.

Low Fees: Transfer Commissions are so low that we can almost say that there are no fees at all. Standard transactions cost only 0.0003 XRP.

High Protection: In case of a hacker attack on the system, the network fee increases significantly. As a result, the hacker would have to pay an enormous sum of money in order to actually hurt the system.

High Liquidy: XRP can be easily exchanged for other Cryptocurrencies, FIAT Currencies, etc.

What do you think? Any and all comments would be most welcomed.

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I think its wise to have a little of each. I do have some xrp put away. I wouldn't mind at all if the value shot up.

This post has received a 3.13 % upvote from @drotto thanks to: @starworld.

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To the question in your title, my Magic 8-Ball says:

Without a doubt

Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.

Ripple (XRP) has a big potential and I think that this cryptocurrency will be BIG in upcoming time. Lets just wait.

No Blockchain technology? No, thank you.

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Thanks for the reply!

I think you will find that the "distributed ledger" system such as Ripple uses will be "the" dominant system in the future, mainly because of the many problems associated with Blockchains. Blockchain technology, such as Bitcoin uses, is just too slow to be taken seriously for international transactions. The distributed Ledger System is also a lot more secure, and as yet has not been subject to hacking as the Blockchain system has.

"Once hailed as unhackable, blockchains are now getting hacked
More and more security holes are appearing in cryptocurrency and smart contract platforms, and some are fundamental to the way they were built."
https://www.technologyreview.com/s/612974/once-hailed-as-unhackable-blockchains-are-now-getting-hacked/

The Difference Between Blockchains & Distributed Ledger Technology
https://medium.com/@markusandersson/the-difference-between-blockchains-distributed-ledger-technology-a0fe4ba3d316

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Thank you for the reply and explanation, I’ll take a look. It seems legit 😁

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