Here in this article we are going to discuss about the importance of Ripple (XRP) which according to news and reports becoming the number one choice for the various banks in the world such as Santander, UniCredit, UBS and Standard Chartered.
Character of Ripple
The XPR ledger can make more than 1500 transactions within a second because it doesn’t need any kind of mining pool as the other cryptocurrencies does, so it is faster transacting than other cryptocurrencies. It is also known to be as open source codebase that depend on XRP coin. Garlinghouse in his interview at Money 20/20 conference suggested that in the year 2019 this Ripple (XRP) will embrace all the banks of the world and it will become their significant tool.
Statement of Ripple CEO
The CEO of Ripple named Brad Garlinghouse concluded in his various interviews at CNBC as well as in a conference named Money 20/20, Ripple (XRP) will become very popular in the year of 2019 and according to him its future is very bright as it will be the first choice of all banks. This system was introduced in order to make transactions from different banks faster and cheaper.
Technology of Ripple
The money which will in the form of XRP may be converted into any kind of currency within no time. The method of Ripple XRP includes xCurrent, xVia and xRapid respectively. xCurrent is used to receive as well as send cross border payments. xVia is responsible for sending international payments with the help of RippleNet. xRapid is underdeveloped and can’t apply or use now.
Due to its accuracy and speed all of the transactions which were made by Ripple (XRP) will transferred within no time or within minutes.
According to Garlinghouse, Ripple (XRP) will be adopted by all the banks of the world due to its speed, accuracy and mean of working.
This will be a very good sign for the promotion of Ripple as its working method will surely leads this system as first cryptocurrency choice of all banks in the world. We wish good luck to all the team of Ripple (XRP).
Master’s student in Estonia studying mechanical engineering.
Cryptocurrency, Mining, Masternode running, IoT Technology.