1. What is Ripple (XRP)?
Ripple/XRP provides an unimpeded global payment network using blockchain technology and is the world's first open payment network that can be transferred to any currency, including the US dollar, by joining Ripple's growing global payment network. , Euro, Renminbi, Japanese Yen or Bitcoin, easy and fast, the transaction confirmation is completed within a few seconds, the transaction cost is almost zero, there is no so-called cross-banking and cross-border payment. Ripple is an open source point-to-point payment network that allows any organization or individual to easily, inexpensively and securely transfer money to any institution or individual on the Internet, no matter where in the world. Ripple is a p2p software that can be created by anyone, company, or government. Anyone can create a ripple account.
Since May 2017, Ripple's network of verifiers has expanded by 140% to 55 participants, including WorldLink, Telindus-Proximus Group, Microsoft, MIT, CGI, Swedish ISP, Bahnhof, and data center and system integration. Service provider AT TOKYO and so on. All of these participants are now maintaining the integrity of the XRP ledger book (previously the Ripple Consensus ledger), running the software to help it agree on the transaction settlement order.
Ripple currency is the only common currency in the ripple system. It is different from other currencies in the laptop system. Other currencies such as CNY and USD cannot be cashed out across the gateway. In other words, the CNY issued by the A gateway can only be cashed out at the A gateway. If you want to withdraw cash from the B gateway, you must convert it to the B gateway's CNY through the pending order function of the laptop system to withdraw it to the B gateway. Ripple has no such restrictions at all, it is universal in the ripple system.
3. Detailed parameters
Chinese name: Ripple English name: Ripple English abbreviation: XRP
Developer: Ripple Labs Core Algorithm: OpenCoin original algorithm Release date: 2011-04-18
Block time: seconds to block reward: total currency 100 billion
Liquidity: 35.83 billion (cut-off time: 2017.11.06)
Main features: Google's investment, decentralized trading function has been realized, the practical application prospects are good
Inadequacies: technology needs to be improved, XRP distribution has to be released
4. Common links
Project website: https://ripple.com/
Blockchain browser: https://bithomp.com/