Ripple, developed by Arthur Britto, David Scwartz and Ryan Fugger in 2012; it can be defined as an international money transfer network which enables a quick and inexpensive way of making money transfers. Ripple; distributed financial technology enables banks to send real-time international payments between networks. Ripple, which is traded on the market with the abbreviation XPR; It is the third largest crypto currency after Ethereum.
It is a ripple, blockhain-based work that first appeared in the US in 2012. ECDSA and ED25519 algorithms, it is stated that 20 banks are in agreement and testing phase while 17 banks are operating in ripple network. Finally, Akbank Ripple, which is located in our country, started international money transfers. With an investment of $ 90 million, he has managed to become one of the top four talents.
What is Ripple's aim?
Chief cryptographer David Schwartz is about Ripple; "Today's payment systems are like e-mails in the early 80s. Every provider set up their own system for their customers, and if people were using different systems, they could not easily interact with each other. The system is designed to connect different payment systems. "He explained.
Ripple; It has been put on the market to prevent transaction delays, to eliminate transaction fees, to facilitate international money transfer transactions, and to serve the financial market. Ripple aims to shake the throne of payment systems.
The Ripple network is designed to allow the seamless transfer of any currency regardless of whether it is a dollar, euro, pound, yen, or Bitcoin currency.
Why should Ripple be preferred?
Ripple; Unlike Bitcoin and other subcontractors, they are bought by individuals who want to manage their businesses and funds quickly. Ripple's support for all currencies provides freedom of action for individuals.
The transfer of funds between countries takes a lot of time and the cutting of high commissions is bringing the global economy to the forefront. The fact that Ripple's speed and expense are so small that it is not worth trying is affecting the companies, especially the banks, and the people making money transfers abroad.
Where and how to take Ripple?
It seems that some people take bitcoins and turn them into XRPs. We hear that some of them are trading directly on foreign stock exchanges and that they are experiencing less problems in this way.
Bittrex, Poloniex, Bitstamp, Shapeshift are known to be the most preferred foreign stock exchanges for Ripple coin purchases. At the same time you can buy from Ripple's own site.