A Ripple In simple word is an open payment network which is used to transfer currency.
You can compare Ripple with Bitcoin. So the concept behind Ripple is to flow the money freely and easily by its customers or users without any liability of fee, safety and comfort of privacy to do the transactions of currency around the world, anytime to anyone of your choice.
Ripple give you the freedom of your financial network like the freedom from internet banking, credit card transactions or even PayPal because the companies and institutions like them charges the customers with huge currency exchange rates, heavy fees and so much worries to care about. Ripple is the solution for the users who wants freedom, safety and privacy in their virtual world of currency sharing, spending and their transactions of transferring and receiving money from the known or unknown sources. Ripple was created to break the walls of your
Banks and other financial institutes can bound you in many circumstances from the processing delays to the transaction fees. That’s why Ripple is a real time gross settlement system in short (RTGS), Ripple too support token representing fiat currency, cryptocurrency, commodity. You will be delighted to hear that Ripple have a kind of payment protocol that is named as (RTXP) called the Ripple Transaction Protocol it’s one of a kind because it enables the instant and direct transfer of currency between you and other client. There are so many different currencies you can exchange in it from US dollar to euros, from RMB to Indian rupees. Ripple also gives you the freedom to send a payment in any currency you like or you need to any Bitcoin address. In simple words Ripple wants to remove the central operator between you and your other client or user with which there will be a criss cross of transactions of money o virtual currency. Ripple is the name of a digital currency (XRP) like Bitcoin, so that’s why Ripple’s XRP unit is a virtual form of currency that has a limited numbers of unit that can finally be mined and its too based on some mathematical formulas that makes it great. The company will ultimately create 100 billion ripples and 50% of that will be released to circulation. Ripple is too in the race for the future of virtual financial system and virtual money just like Bitcoin.
