In recent years, cryptocurrencies have found themselves at the heart of financial technology news.
After Bitcoin and Ethereum, it is Ripple’s turn to show great promise. Many have become rich thanks to investment in Ripple. Related to that, take a look at the XRR rich list.
But is Ripple really a safe cryptocurrency? Do you really need to invest in it? We will bring you some answers through this article.
What is Ripple, and what is its particularity?
Launched in 2012 by a San Francisco start-up of the same name, Ripple is a Blockchain-like real-time raw payment system and exchange and money transfer network. The Ripple protocol enables secure financial transactions in real-time. It has the particularity of processing all kinds of transactions, regardless of their size. It works using a public database that uses a process of interaction between the different validation servers.
Almost free, it is already attracting the biggest banks such as the National Bank of Abu Dhabi or UniCredit, which use Ripple technology to carry out transactions that can reach astronomical sums. It, therefore, allows banks to initiate fund transfers instantly and almost free of charge.
Although using the consensus technique and validation servers, Ripple is far from being a Blockchain. Unlike Bitcoin, this cryptocurrency uses a HashTree, which allows it to convert different data into a single value. It is, therefore, an exchange token, as reported in the blog article posted by the UK Financial Conduct Authority.
The benefits of Ripple
Abbreviated by the XRP symbols, Ripple offers several significant advantages, namely:
- Ultra-fast transaction (about 4 seconds);
- Very low transaction fees (around $0.004 for each transaction);
- Today, Ripple is a partner with hundreds of banks around the world (National Bank of Abu Dhabi, Bank of America, UBS, JP Morgan, Barclays etc.) and therefore offers exceptional ease of withdrawal;
- Thanks to its transaction system, Ripple offers more transparency and better security in transactions. Each transaction is, in fact, listed in a non-modifiable ledger that can be consulted by the public;
- Ripple cryptocurrency has no central point of failure as transactions have a single value.
Although Ripple is currently one of the most prominent cryptocurrency in the world, it is very difficult to predict its evolution given its volatility. Nevertheless, based on the publications of the various specialized media, it is possible to have a global vision of its future.
According to some of the biggest media outlets devoted to Ripple, after a very promising start, the crypto-currency could see its value rise thanks to the various partnerships signed by the leaders. He thus foresees an increase of 8 to 10 dollars before 2030.
USLifted XRP cryptocurrency site announces a bright future for Ripple. According to the experts of this media, the value of XRP could reach up to $22.79 by 2030.
For Oracle Times experts, the value of Ripple could reach new records. However, for this to happen, the cryptocurrency will have to position itself as the leader in cross-border transactions between financial institutions.