** Introduction **
Surprisingly, the Ripple platform was created earlier than bitcoin (BTC) alone. The founding father was Ryan Fugger - a developer from Canada. His goal was to program an online value exchange system for the local community. Created in 2004, the platform was called RipplePay. In 2005, the first working version of the system was launched. The idea that guided the project was the immediate posting of transactions on the basis of the IOU model. This model is based on creating a network of mutual financial obligations between trusted parties on the basis of loans taken out. At the moment when the transaction occurs between untrusted parties, it must first be transferred by mutually trusting network members until it reaches the final recipient of funds. Therefore, the RipplePay system did not transfer any funds, but instead booked information on mutual financial obligations of individual network members, so transactions could be made immediately without banking sessions. The assumptions underlying RipplePay are still used in the Ripple network today. Established in September 2012, the company - OpenCoin Inc. initiated work on the Ripple Transaction Protocol - RTXP. Soon, XRP cryptocurrency was created. . Next year. OpenCoin changed its name to Ripple Labs. Among the more well-known institutions that have invested in the development of Ripple are Venture Capital, Google and Andreessen Horowitz.

The German Fidor internet bank was the first to use Ripple's services. Later, other banks and companies joined, such as Earthport - a company providing payment solutions to banks from 65 countries, e.g. Bank of America or HSBC. In 2015, Ripple introduced transaction monitoring and AML regulations in line with US banking law, which means that transactions in XRP are not anonymous. In August 2016, a consortium of banks using the Ripple network (SBI Holdings) was launched in Japan. The network brings together over 80% of banking institutions in the country. After obtaining a license from the Japanese Financial Regulator (FS) on September 26, 2018, SBI Holdings began providing payment services via XRP.

The stable version of the Ripple network (1.0.0) was published on May 15, 2018.

In September 2018, the upcoming completion of xRapid was announced. It is a payment network enabling immediate international settlements with the use of various fiat currency using transfers via XRP. This will significantly reduce the cost of international transfers with currency exchange. Information on the future release of xRapid has been warmly received by investors, causing a 115% increase in value in just a few days. Currently Ripple has been implemented in over 90 banks around the world. The maximum supply of XRP is 100 billion units. Not all coins are circulating to avoid massive oversupply. In May 2017, systematic increase of supply in the market circulation was adopted in an automated and trusted manner. Most, as much as 55 billion XRP units (55% of all available) were placed on the Escrow account, which since December 2017 has been systematically releasing 1 billion XRP every month. At a time when the market will not accept the released number of XRP due to too low demand, then they will be transferred to the next contract, after the expiration of the underlying 55. This will prevent excessive supply of XRP, which could lead to a sharp drop in prices, while maintaining credibility due to the inability to edit Escrow contracts.

Currently, according to coinmarketcap.com (as of February 18), 41.2 billion XRP units are in circulation.

It is interesting that the coin XRP is not necessary for the operation of the Ripple network, as xCurrent software supports various fiat currencies.

XRapid technology, being the flagship product of Ripple, provides the possibility of interbank cross-border transfers using various currencies in which the transfer itself is carried out in XRP. In mid-2018, the cryptocurrency name was changed from Ripple to XRP. Ripple team Brad Garlinghouse - CEO, worked in management positions at AOL, Yahoo, SBC, and as CEO of Hightail and Dalpad Communications. Brad currently owns 6.3% of all XRP coins.

Chris Larsen is a VC investor from Silicon Valley, he helped set up Ripple, as well as several other FinTech companies, including E-Loan, OpenCoin, and Prosper Marketplace.

Jed McCaleb, founder of one of the largest (at least once) cryptocurrency exchanges - Mt Gox (the stock market was hacked after McCaleb sold the company to Mark Karpeles).

In addition, Ripple has several internationally known investors, including Google Ventures, Andreessen Horowitz, CME Ventures, Accenture, and Santander.

It's fair to say that Ripple has many high-ranking people in the world of finance and technology.

** Idea **
Ripple (XRP) is a comprehensive real-time settlement platform (RTGS). It is a quasi-decentralized transaction network based on blockchain technology and has its own digital currency - XRP. Ripple is assumed to be an alternative to real-time settlements between banking institutions, which provides cheaper, faster and more convenient transfers, including international ones. The capacity of the XRP network is over 1,500 transactions per second (TPS). It also provides up to 50,000 transactions at extreme loads, which is the result at the Visa payment network level.

** ** Competing projects
The equivalent and competitor of the SWIFT banking communication system in the Ripple network is xCurrent, which is open source and can be integrated with various blockchain networks.

** Use of the XRP coin **
In this case, you must distinguish all areas of the company's business.


This is the name of the Ripple Global Payment System. This system is a global network of banks in which people can send and receive payments using Ripple technology. RippleNet provides so-called "Gross settlement certainty", or transfers between banks or between financial institutions. This is important because thanks to this option, banks can send all transactions as separate ones, even though they send their entire packet collectively in one session.

RippleNet operates based on cooperation with numerous banks and financial institutions. When the bank joins the network, users from around the world will be able to use the features offered by the network through a local bank cooperating with RippleNet. Users can be corporate or individual clients or any organization that wants to use network services.

RippleNet provides a series of solutions:

xCurrent: Payment Processing xRapid: Source of Financial Liquidity xVia: Initiating Payments xCurrent

It allows you to process transfers between banks. RippleNet describes it as follows:

"Standardized technology enabling communication and making interbank transactions with increased speed, transparency and efficiency."

xRapid is a bank settlement network that allows you to make instant transfers using various fiat currencies using XRP as a means of transfer.

xVia is a solution for financial institutions that want to use one software to support different payment systems. It is interesting that you can monitor all transfers and even attach various additional attachments such as invoices. xVIA integrates the banking infrastructure and API RippleNet

** ** Mining
No, you can't mining XRP. A constant number of cryptocurrencies circulates. Under the Ripple protocol rules, new XRP crypto coins cannot be mined. The total number of XRPs created is 100 billion, the flow itself is controlled by Ripple. Flow control has been criticized by Bitcoin supporters and other cryptocurrencies.

Ripple decided to freeze 88 percent. coins to sell one billion XRP every month. Thanks to this, investors can count on the expected level of currency supply.

** ** Summary
Despite much controversy, this project cannot be denied a very strong technological base. It is also impossible to deny the ambitions of the founders, who until now are not just empty slogans, but are successively forged into the implementation of subsequent stages of the roadmap and acquiring significant partners in the world of technology and finance.

__Website: __

__Wallets: __
Toast Wallet for Ripple, for all operating systems as well as the browser version
Rippex Wallet mobile and browser version

__ Hardware wallet__
Ledger Nano S https://shop.ledger.com/?r=fb95c418f05d

White Paper: https://ripple.com/files/ripple_consensus_whitepaper.pdf
Source code: https://github.com/ripple
Explorer: https: //xrpcharts.ripple.com/#/transactions https://ripple.com/build/ripple-info-tool/

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