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Ripple: A Short Review

Ripple: A Short Review
Ripple: A Short Review

Ripple Inc is a financial technology company that developed and runs the Ripple platform. It uses its own decentralized patented technology called Ripple Protocol Consensus Algorithm (RPCA). Activities on the platform are powered by its native token, XRP.

In conclusion, Ripple is interested in developing a cross-border remittance network called real-time gross settlement system (RTGS). Unlike with other virtual currency projects that use intensive computing powers to validate transactions, Ripple uses servers managed by either individuals or institutions to validate transactions, that is, the blockchain. Therefore, all nodes must reach a consensus for the transaction to be committed.

The Genesis of Ripple

Behind the tech are Chris Larsen and Jed McCaleb, a programmer and the co-founder of several technology-related startups. McCaleb’s name will also come up when discussing the Mt. Gox, a crypto exchange that handled more than 70 percent of all Bitcoin (BTC) trades before its collapse.

So, those who have invested in Ripple Labs include Pantera Capital, Bitcoin Opportunity Fund, Andreessen Horowitz, Google Ventures, IDG Capital Partners China Growth Capital, Standard Chartered, CME Group, among others.

Advantages of Ripple

Low transaction fees

Since Ripple is meant to facilitate sending money between friends using the same fiat currency or even in different countries with a different fiat currency, the charges to send funds are meager compared to using PayPal, Visa, or MasterCard.

Almost instantaneous

Ripple only needs four seconds to send money from one end to the other regardless of the distance. This is faster than other cryptocurrencies such as Bitcoin. Visa and other payment processors do not even come close to this speed since it takes a couple of days for funds to reach their destination.

It’s for daily use

With low fees and fast transaction speeds, Ripple is well suited for everyday use. The platform can handle any fiat currency since its first converted to XRP on the sender’s side then the receiver converts the XRP into his/her supported fiat currency. For this reason, Ripple is supporting start-ups developing XRP use cases through Xpring.

Products from Ripple China

To ensure that it serves a cross-section of individuals and firms in the financial sector, Ripple has developed several products.


This is the primary product that enables ‘frictionless experience’ when sending money around the world. So, RippleNet is dubbed as “the world’s only enterprise blockchain solution for global payments.” However, other products have been carved from RippleNet and often time, the below options are considered a suite of RippleNet.


This is specifically designed with financial institutions in mind. It facilitates cross-border payments and enables end-to-end tracking. Additionally, it has inbuilt messaging capabilities that apply across the RippleNet ecosystem. The solution uses the InterLedger Protocol to allow payments to be sent on different networks.


Unlike xCurrent, xRapid is for payment providers who want to use Ripple’s native token, XRP, to send money across the globe. This product is exceptionally cost-effective when sending money to emerging markets since it lowers the liquidity cost.


xVia does not use XRP. It is designed to facilitate international money transfer via a traditional financial institution on RippleNet; it is also capable of handling invoices among other payment information.

In conclusion, Ripple has already partnered with major banks and financial institutions. However, the financial institutions are yet to widely embrace the adoption of the XRP token.

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