When I say Cryptocurrency, many thoughts start to float in your mind. Normally, we all are well aware of Cryptocurrencies. We know, what BITCOIN is and its functionality. All cryptocurrencies are virtual currencies with different ruling powers. They are designed to meet every individuals’ requirement properly. They are Decentralized, Anonymous, Easily accessible, Readily available and vice versa. Since, every token possesses a unique entity in this Crypto World, their working behaviour is also different from each other in aspects of Payment, Transaction, Durations, Rewards, Fees, etc. So, today we’re going to reveal the strength and power of “RippleNet and its digital asset XRP.”


Ø  Do you really know what RippleNet is meant for?

Ø  Who founded RippleNet?

Ø  What role XRP play in RippleNet?

Ø  What makes RippleNet different from others?

Like this, there are several questions which every crypto enthusiast must know. So, in this blog we’ll cover these type of questions as well as I’ll provide you in-depth knowledge regarding it.

Let’s Begin,

Everything about RIPPLE

Ripple is an US based Private Technology Company. It was created by Chris Larsen and Jed McCaleb in 2012. Ripple Labs is a Computer Software Company. It is Head-quartered in San Francisco, California, USA. So, Ripple is just a name of the company through which RippleNet Payment Protocol was created. Ripple is also known for its; 

  • Currency Exchange
  • Remittance
  • Real-Time Gross Settlement

Ripple is a technology which is built on Distributed Open Source Software Protocol. Open source software is like open collaboration. All ripple accounts are stored in a common shared ledger. The major purpose of forming Ripple was to create a global payment platform for everyone with almost no additional cost and swift transmission.

Ripple has tied up with 300+ Financial institutes across 40+ Countries and 6 Continents. To increase its boundaries, Ripple is constantly improving its Software time to time.

Now, the question is;

If Ripple is a software company, then What Is XRP?

Since, Ripple is a system which needs a fuel to get working. So, it introduced its cryptocurrency named ‘XRP’. 

XRP is a digital asset and native digital asset on the XRP Ledger. It is an Open Source, Permission less and Decentralized Blockchain Technology.

To understand it more easily let’s take an example;

Assume a Bank as Ripple Lab. Now, the bank needs fuel to get into motion. So, it allows people to invest and transact by taking a minimal charge for the service they provide. Similarly, Ripple Lab did the same. Since, it is a Decentralized and open source network, any exchange can come up with its ICO (Initial Coin Offering) and introduce it to public. Ripple created its Blockchain Network and introduced “XRP” into market. In this way cryptocurrencies are entering markets. I hope you got your doubts clear regarding RIPPLENET and XRP.

The benefits of using XRP are;

Ø  Transactions are settled within 3-5 seconds.

Ø  No middleman needed.

Ø  Convenient in bridging two currencies quickly and efficiently.

Ø  Unlike other cryptocurrencies, XRP is fast in performance.

Ø  Less costly as compared to other tokens.

Ø  More scalable than others.

Ø  XRP is ideally suited for global payments.

Ø  Easily convertible into various pairs.

I hope this blog will clear most of your queries related to RippleNet and XRP. Now, you’ve understood it very well and will technically pronounce it with its actual Crypto Name “Ripple(XRP)”.