XRP is a Centralized Virtual Currency

Ripple is, at its core, a payment network with a virtual currency XRP used in that network, operated by Ripple Labs. According to its measured market cap, XRP is the second largest virtual currency after Bitcoin, just before Ethereum. XRP has also seen quite a rise during past, taking the second place of cryptocurrencies in just few years. After several requests from our customers we have added XRP available for trading in Coinmotion. When speaking of Ripple and XRP the terms can sometimes be confusing. Ripple refers usually to the payment network and XRP to the virtual currency. Sometimes the name Ripple can also be used to refer to the virtual currency, which is fairly common for example in news articles. In this article we refer to the virtual currency with the term XRP and to the payment network with Ripple. Ripple Tries to Simplify Trades The basic idea behind Ripple’s’ payment network is to act as an intermediate between any trades. In theory one could use it to exchange a trading card for a car provided, if there were be people in the Ripple network willing to make the exchange. Let’s for an example say that Tero from Finland, … Continue reading XRP is a Centralized Virtual Currency