What is Xrp? How it works?
What is Xrp? How it works?

By PrisonedBus9641 | Cryptonews9641 | 22 Mar 2020


Ripple is a cryptocurrency, operating on an open source network and a decentralized platform. The term Ripple also refers to the network behind the cryptocurrency. Today Ripple is one of the digital coins with the highest market cap.

Ripple has its network and elements that make it up. The digital currency (XRP), the stock exchange and a payment network.

Two other founding elements of the cryptocurrency in question are:

  • Ripple Consensus is the algorithm that guides all the transitions that take place in the network

 

  • Ripple Consensus Ledger is the register where the latter are stored and archived. Those who join the Ripple network ensure that they can transfer money in different currencies.

We must also mention the encryption of transactions, a factor that distinguishes Ripple's monetary network. It is also important to reduce brokerage costs, the same that people are forced to pay to banks during the withdrawal and transfer of money from one bank account to another.

 

 

What are the IOU credits?

IOU credits (word for I owe you). These credits, within the Ripple network, are nothing more than currencies (dollar, euro, yen etc.).

During transactions, IOU credits undergo the process of conversion into real money in Ripple gateways. However, the only currency allowed in the network is the XRP, the digital asset of the Ripple cryptocurrency, which is the unit of measurement underlying the exchange of credits called IOUs. The transitions that take place in the network have significant advantages, which can be summarized in three decisive aspects: security (use of cryptography), immediacy, maximum distribution.

 

 

What is xRapid?

xRapid is a payment service created by Ripple for banks and other financial institutions globally. By adopting x Rapid technology, banks have the ability to conduct a term transoceanic payments instantly (in real time).

 

 

 

If you want to listen my music visit my profiles!

Youtube: http://www.youtube.com/channel/UCCfU9azkKA_HnFkiolifhgQ

Instagram: https://www.instagram.com/pribus9641/

Facebook: https://www.facebook.com/pb9641

SoundCloud: https://soundcloud.com/pb9641

 

Link for coinbase earn:

Link to earn Eos:

https://coinbase.com/earn/eos/invite/dpgyvk4h

Link to earn stellar

https://coinbase.com/earn/xlm/invite/pknb120r

If you sell or buy $100 in Coinbase you receive other $10 with the link below:

https://www.coinbase.com/join/frisin_b?src=android-link

 

Monese referral link:

You will receive €5 after the first transaction with the physical card (you just need to pay 15cents in an amazon's gift card). You'll receive the other €15 after a total spending of €500. My referral code is FRAN4936. Download the app from the link below:

https://monese.app.link/4UNw65rgn0?invite=FRAN4936


PrisonedBus9641
PrisonedBus9641

Hello to everyone! I'm a content creator that select the music side. My principally used app is 'Music maker jam' from Magix, that have numerous soundpools to mix. For my music follow me on Instagram, facebook, youtube and SoundCloud.


Cryptonews9641
Cryptonews9641

My personal article about crypto and blockchain's news.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.