Ripple is an alternative criptomoneda based on the technology of Bitcoin, is the second digital currency in market capitalization and aims to solve many of the problems facing Bitcoin, such as the time it takes to verify transactions. In this currency there is no mining, the contribution is based on computing power for network maintenance, this technology was started in 2012, initially known as OpenCoin Inc.
Ripple has high expectations, as companies like Google Ventures and Andreessen Horowitz have invested about 100 million dollars. Ripple's technology is based on the goodness of Bitcoin, however, while Bitcoin transactions take at least 10 minutes to complete the transaction, using Ripple ripple technology, transactions are instantaneous thanks to the use of an algorithm of consensus. The Ripple network is a closed system and is approved by the nodes that can access it. It is said that the Ripple was created to solve the problems of commerce
In summary, the Ripple system is substantially different, with other mechanisms of confirmation of transactions, which allows them to be executed instantaneously, which is a fact is that the two currencies can coexist in the exchange environment of Digital cryptomonedas of modern commerce.
With this technology RIPPLE allows banks to reduce operating costs and offers new services for cross-border payments, ie where different countries are included, the customer has an encrypted digital key or access, it is a direct access to the bank. As for the speed of the transaction, this has an instant processing, there is a great certainty, with a real time traceability of the funds, in terms of the costs of the operation which is one of the customer's concerns, this one has Very low costs for each transaction.
Therefore, we must not forget, the following; World trade is changing rapidly. Companies are increasingly global from day one and consumers are scheduled to wait for the provision of services and information. However, the current payment infrastructure is woefully inadequate to meet these needs.
Therefore, Ripple works with banks to transform the way they send money to the world, a necessary step to compete in today's growing economy. That is why there is the vision that is to enable the Internet of Valor so that the world can value the way it moves information today.
Therefore, the question may arise, What is Ripple ?. Ripple's distributed financial technology enables banks to send international payments in real time through networks.
There is also the possibility to say, Why Ripple?
Using Ripple, banks can meet the increasing demands of faster, low-cost and on-demand global payment services for any size of payment. The result: new revenue opportunities, lower processing costs and better overall customer experiences.
From this perspective, it can be stated that there is. Access: direct bank liquidation to the bank, with distributed financial technology. Speed: instant settlement, distributed financial technology. Certainty: Real time traceability of funds. Cost: Lower total cost of settlement.
Without forgetting, using Ripple, your bank can acquire new customers and increase revenues through differentiated products and services. In addition, Ripple reduces your bank's back-office costs through an efficient mechanism for processing and clearing international payments. This model allows you to estimate the efficiency gains your bank can achieve using Ripple for international payments.
That's why Banks are adopting it: Ripple enables banks to open new revenue opportunities, reduce processing costs and deliver better global customer experiences. Integrate once, to access the full potential of Ripple's growing network of financial institutions and liquidity providers.
At this time, ten new customers join Ripple's global payment network, so Ripple is proud to announce the addition of 10 new customers to the growing global network. These financial institutions include: MUFG, BBVA, SEB, Akbank, Bank of the Axis, YES BANK, SBI Remit, Cambridge Global Payments, Star One Credit Union and eZforex.com, representing some of the world's largest banks, small banks Innovators and payment service providers (PSPs). As the only blockchain provider that has actual use cases and customers who use the solution commercially, more and more customers are turning to Ripple for cross-border payments. These ten clients are now among the most advanced financial institutions in the world who are committed to going beyond the possibilities and are using Ripple's business blockchain solution to move real money around the world today.
The efficiency is denoted by the use of this technology: 2016 was an important year for Ripple. Banks were added to the growing network, a successful Series B investment round was made and the Global Payments Management Group was formed. The Ripple Consensus Ledger (RCL), which operates 24 hours a day, 7 days a week, and recently celebrated its fourth birthday on February 17, 2017, was underpinned by all those milestones. In 2016 alone, RCL closed more than 8 million accounting books, processing more than 225 million transactions and handling more than $ 1 trillion in volume payment throughout the year.
Ripple can handle more than 1,000 transactions per second.
With 2017 already well advanced, there is a hard work, new features are added to the RCL and further improve the performance, stability and quality of the encoded open source base. Most importantly, there is a commitment more than ever before with the simple aim of making the XRP the digital reserve currency of the world. It is important to follow the course of this new form of investment. New ads are expected.