How Do I Mine Ripple also known as XRP?
well, the simple answer to the question is you can't. Yes, you heard right no one can mine XRP i.e, Ripple. As much as I know many coins in the crypto world aren't mineable. Here is the comparison of two lists from CoinMarketCap between all coins vs mineable coins :
why CryptoCurrency like Ripple also know as XRP Can't be Mined?
mining is extremely important in the case of complete localized cryptocurrencies, like bitcoin. By remaining open to anyone with the necessary skills and resources to mine, Bitcoin theoretically prevents any single entity from controlling Blockchain.
Different from Bitcoin, XRP is directly issued by the ripple company rather than being mined into existence. The only way to get ripple is either buy it or earn it.
Ripples Pros & Cons :
Pros:
- Ripple transactions are very quick, conforming within seconds.
- In one second 50000 Ripple can be transactions.
- Ripple network does not need any significance electric consumption.
Cons:
- The system can be altered or shut down by the state.
- transaction can be reversed or frozen.
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