Virtual currency separated from Bitcoin and Litecoin: Ripple
Leaving Ethereum and Litecoin behind, Ripple has become a new sight of the virtual money market.
Managed by a private company, Ripple can not be used for shopping. On the one hand, this virtual money can not be mined.
Although the value of Ripple is still less than Bitcoin, digital money has had a remarkable year. According to Coinmarketcap.com’s data, virtual money has risen over 40,000 per cent over the past 12 months to over $ 140 billion. In the face of this, Bitcoin’s market value was over 252 billion dollars.
Again, according to Coinmarketcap.com, Ripple fell 2.38 dollars on Tuesday (January 9th) with a 9.21 percent decline and the total market value is above $ 92 billion. Virtual money, even if you re-enter Ethereum, is still more valuable than Litecoin.
What is Ripple?
Ripple, which differs from Bitcoin and Litecoin by virtual circles, can be seen as a “coin”. While coins like Bitcoin are traded at their value, “tokens” tend to be tied to something else.
Who created Ripple?
Technically, the so-called “XRP token” was created and managed by Ripple Labs, a global money transfer company.
This rigorous distinction between Ripple and other digital currencies like Bitcoin and Litecoin makes Ripple more central than other virtual parallels. This does not apply to Ripple, although it may be the owner of the other virtual money in question, in the process.
Is there a similarity between Ripple “coin” and other virtual funds?
No. While Bitcoin is the main currency traded and used, XRP tokens are supported by traditional currency like dollar and yen.
Bitcoin and most other virtual money, serve a single purpose: to be digital money. Ripple was born as a solution to the problem of transferring money from one country to another. Global money transfer can be done in seconds with Ripple.