Ripple is a real-time gross settlement, currency exchange and remittance network. Ripple is based on a shared public database. So it is completely decentralized system. The main purpose of Ripple system is to transfer big amounts of money as quick as possible. It has its own digital currency called XRP.
Ripple was released in 2012. Its authors are well-known. They are Arthur Britto, David Schwartz, and Ryan Fugger. Ripple has a predecessor. It was called Ripplepay. It was developed by Ryan Fugger. He wanted to create decentralized monetary system that allowed users to create their own coins. His first financial service that provided secure payments for global network users was released in 2005.
The next step was the concept of eDonkey money developed by Jed McCaleb. In 2011 Arthur Britto and David Schwartz started working on digital currency system where transactions were verified by consensus among network users.
In 2012 the team co-founded corporation OpenCoin. They began developing the Ripple Transaction Protocol (RTXP). The idea was to enable immediate money transfer between two parties. This type of protocol allows exchanging any currency. In terms of security Ripple relied on a common ledger that is "managed by a network of independent validating servers that constantly compare their transaction records". Servers can belong to individuals as well as to banks. They also developed their own digital currency XRP.
Since 2013 a number of financial institutions have been adopting this protocol. In 2016 Ripple announced the creation of the first interbank group for global payments based on distributed financial technology. Now it's still growing.
So you analyzed all the pros and cons and decided to invest into XRP. Now you need to buy XRP. How do you do this?
Follow the instruction below: