Ripple is a real time settlement system created by Ripple Labs Inc. The native token to the protocol is called the XRP. The Ripple protocol is often seen as the more centralized, bank oriented distributed ledger protocol. The Ripple protocol is a shared public database with a ledger that tracks the accounts and their associated balances. Ripple has been used by UBS, UniCredit, Santander, and is increasingly being adopted by various banks and payment networks for it settlement infrastructure technology.
Extremely scalable protocol with projected limits like that of Visa
100 Billion Pre-Mined tokens with less than half in circulation
One of the most capable large scale Fiat/Cryptocurrency solutions
Average settlement time of just 3-4 seconds
Network supported primarily by Centralized Institutions.
Unlike many “blockchain” crypto currencies the Ripple protocol uses a different consensus mechanism which means that occurs when transactions are then checked against the network at that time. Global consensus for a transaction normally only takes a few seconds with only minimal fee’s. The minimum fee is 0.00001 XRP which is not collected but destroyed.
