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Thursday, December 20, 2018

Introduction To Ripple

Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Ripple is built upon a distributed open source internet protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.[3][4] Released in 2012, Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks."
Ripple  is based around a common open ledger,[5] the XRP Ledger,[6] which utilizes an agreement procedure that takes into account installments, trades and settlement in a conveyed procedure. The system can work without the Ripple company;[7] among its validators are organizations, network access suppliers, and the Massachusetts Institute of Technology.[8][9] The record utilizes the decentralized local cryptographic money known as XRP, which as of December 2018 was the second biggest coin by market capitalization.[10][11] 


Utilized by organizations, for example, UniCredit, UBS and Santander, Ripple has been progressively embraced by banks and installment arranges as settlement framework technology,[12] with American Banker clarifying that "from banks' point of view, appropriated records like the Ripple framework have various favorable circumstances over digital forms of money like Bitcoin."[13]

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