Ripple Coin is developing Bitcoin Profit

Ripple Coin is developing rapidly. For some time now, the virtual currency XRP, also known as ripple coin, has been one of the world’s most important crypto currencies with a market capitalization of several billion USD. While Ripple became a bit quiet again in the last months, the price broke the ongoing downtrend on August 22, 2017 and the price of an XRP rose by up to 60%. Within 24h mind you! If you look at the coin on CoinMarketCap, you can see that more than 70% of the trade volume comes from South Korea…Perhaps this rise in the share price has fuelled recent rumours of expansion into China. An interesting project is Ripple anyway. But what is this project all about, and what is behind this idea? Find out here:

What is Ripple?
How the network and the Ripple Coin work
Ripple Coins: the currency XRP
Who’s behind Ripple?
The advantages and disadvantages
Where can users buy Ripple Coin?
Ripple Coin Forecast
Ripple Coin differs from other known crypto currencies in that the currency units are not generated by mining, but can be issued and subsequently traded.

What is Ripple?
Ripple is an open source protocol used for a payment network. The original idea came from Ryan Fugger. The basic idea was then put into practice by Ripple Labs. Ultimately, in addition to a distributed peer-to-peer payment method, a virtual currency market is also to be created, in which a separate ripple rate is to be set for any real and virtual currency, for example the rate ripple – euro.

Bitcoin Profit Database

The heart of this monetary system is a public database that can be shared. The database contains a register showing the account balances in ripple coins of the various participants. This register can be viewed by every participant, as well as the logged records of the complete processes in the network. The register may also contain scam information on Bitcoin Profit on the various offers to buy and sell goods and foreign exchange. These options make Ripple the first distributed trading platform. All participants in the network have the opportunity to suggest changes to the register, which will then be implemented by consensus. This means that the goods can be traded without the need for a central clearing office.

Also included is an internal virtual currency called XRP, also known as Bitcoin Profit or ripple coin in the scene. Ripple network participants can buy Ripple Coin and use it either as a means of payment or to save and also store it in a Ripple Hardware Wallet.

Ripple is:

Ripple is an open source protocol for a payment network, based on an idea by Ryan Fugger and developed by Ripple Labs. In its final stage of expansion, Ripple is to be a distributed peer-to-peer payment procedure and a currency market. The Ripple network supports any currency (Dollar, Euro, Yen, Bitcoin etc.). Definition Wikipedia

How the network and the Ripple Coin work
The basis of almost all modern monetary systems is mutual trust. For example, if the bank grants a customer a balance of 100 euros, the customer also trusts that the money will be paid out to him. Ripple is an attempt to transfer the mechanism of modern payment systems to the net: the liabilities that exist between different institutions, companies and private individuals are recorded in the register, which is stored in a peer-to-peer computer network. The so-called consensus algorithm ensures that all distributed copies are always at the same level.

A borrower’s note, called an IOU, records the amounts in which currencies the various participants owe each other. There are also ripple gateways. They accept established means of payment for which IOUs are issued, which can be redeemed at any time if required. The ripple gateway can basically be compared to a conventional bank. The difference to a bank, however, is that the liabilities are not stored in its own books but in the ripple register. In order to redeem the gateway IOUs, payment must always be made externally, which can be done by a bank transfer as well as by transferring cash.