Ripple network has a number of unique advantages to its credit. It not only offers real-time settlements but also supports a range of currencies, including fiat money and cryptocurrencies for transactions. Further, the ripple network supports commodity exchanges, which further add to the utility of the blockchain platform.
XRP is Ripple’s native coin and its versatility is apparent from the fact that the cryptocurrency can be used not only on its own network but also on other blockchain networks. This is because the XRP coin is based on the shared ledger, which makes it compliant with other open ledger networks.
Cross-border remittance is the most popular use case of the Ripple network. Thanks to its high speed of settlement, the Ripple network is the preferred choice of many organizations, especially among banks that use the network as their primary infrastructure settlement technology. Not only is the technology fast and reliable, but thanks to the open ledger blockchain Technology, all the stakeholders involved in the process remain assured about the safety and security of their transactions.
According to the protocol adopted by Ripple, the network has capped the total number of XRP to 100 billion. According to the protocol, creators of Ripple have reserved 20% of the total supply with them while the rest 80% had been open for sale. Ripple XRP price keeps on changing regularly and the coin is rated as the third-largest cryptocurrency in terms of market capitalization. In sum, Ripple is one of the most important players in the crypto industry and Ripple XRP news is analyzed keenly by market experts.
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