Ripple is a cryptocurrency, but it’s a bit different than Bitcoin or Ethereum. You might have heard of Ripple: even though it’s not as popular as other cryptos, it’s still one of the biggest cryptocurrencies out there. In fact, according to CoinMarketCap, Ripple has the third-largest market cap after Bitcoin and Ethereum.
Since the value of all cryptocurrencies moves up and down together – there was an epic crash earlier this year, it can be hard to track exactly how many users have adopted Ripple for everyday transactions. However, there are some reasons why this crypto is still popular and could remain so for years to come. So, in this post, you will see some reasons Ripple is still standing as one of the biggest cryptos in the market today. If you have been thinking if you should buy Ripple or not, you might need to read this!
Ripple’s technology is one of the most innovative in the crypto space
It stands as a departure from Bitcoin, which uses a blockchain that only allows users to verify transactions themselves. Instead, Ripple uses a consensus ledger: every node on its network verifies each transaction and signs off on it before it can be added to its blockchain. This makes it significantly faster than other cryptocurrencies like Bitcoin, Ethereum, or Litecoin. It takes about four seconds for an average transaction to go through on Ripple’s platform compared with 10 minutes for Bitcoin.
Ripple also has some distinct advantages over Ethereum when it comes to efficiency and scalability. Unlike Ethereum, which requires every new node (or validator) to process all transactions, Ripple only needs one validator per trust line because there are thousands of lines between trusted parties already existing in their ledger.
So not every single transaction has to be validated by all nodes individually but rather just those who hold funds within these relationships between trusted parties.
Ripple is a great crypto for beginners to understand
If you’re a beginner, Ripple is a good choice for you. It’s one of the best cryptos to invest in if you want to understand the fundamentals of how blockchain works.
Ripple is less volatile than other cryptocurrencies, which means it won’t fluctuate wildly in price like Bitcoin or Litecoin do. Also, Ripple has been around since 2012 and still maintains its position as one of the top cryptocurrencies by market cap (around $17 billion).
Ripple maintains a token called XRP, which helps it benefit from crypto market surges
By contrast, Ripple maintains a token called XRP, which helps it benefit from crypto market surges. Because XRP is not mined like other cryptocurrencies, there are actually 48 billion tokens in existence right now.
The company’s goal is to eventually have all of those tokens in circulation, and they could conceivably achieve that goal if they don’t issue more in the future. Since the supply of XRP is finite, when demand increases and people buy more coins with their fiat currency (the U.S. dollar), each individual coin becomes more valuable because there are less available on the market.
Ripple’s website explains how this works: “At any given time, there may be no more than 1 billion outstanding XRP as we destroy unclaimed BCH [Bitcoin Cash] or BTC [Bitcoin] from our treasury accounts periodically over time.”
Ripple has a very active Twitter account with more than 400,000 followers
This might be surprising to some people, but it’s true. Ripple is one of the most active coins on Twitter, with more than 400,000 followers. That’s a lot of people who are interested in what you have to say!
The company’s Twitter account has been active since 2013 and regularly posts financial news and updates. In addition to its active Twitter presence, Ripple has a large website that offers information about the company and its products.
In addition to providing news about Ripple’s products, the website includes information on how to buy them as well as links to other resources such as forums where users can interact with each other and share tips or experiences.
The Ripple network can process more transactions per second than any other blockchain
The Ripple network can process up to 1500 transactions per second, which means it’s one of the fastest cryptocurrencies. Bitcoin and Ethereum, by comparison, can only handle 7 and 20 transactions per second respectively. This makes Ripple one of the fastest cryptos to send money through its network, and it’s one of the reasons most investors and traders will prefer the crypto over others when it comes to sending and receiving money.
Ripple is one of the few cryptos not run by a mysterious founder
One of the biggest selling points for Ripple is that its founders are well-known figures in the crypto community. Popular among them are Chris Larsen and Jed McCaleb.
McCaleb was one of the founders of Mt Gox, the infamous bitcoin exchange that went bankrupt and lost hundreds of millions of dollars worth of currency when hackers infiltrated its system. While McCaleb left Mt Gox in 2013 to start his own cryptocurrency trading site (he sold it to Mark Karpeles in 2011), he’s still known as an honest person who has developed several successful altcoins.
Even though it’s hard to track exactly how many users have adopted Ripple, there are some reasons why it’s still popular.
First and foremost, it’s because Ripple is one of the easiest cryptocurrencies to understand. In fact, you can go through all the steps to buy Ripple using your credit card in just two minutes. Once you own some XRP, selling and trading them on an exchange is just as simple. Not only do you not need any technical knowledge or coding skills to use Ripple, but even beginners are able to easily trade their XRP tokens and make money from them.
Ripple also has an active Twitter account with more than 400,000 followers, which means there are plenty of people out there who know about this crypto! And lastly: unlike many other cryptocurrencies like Ethereum or Bitcoin, which have mysterious founders behind them who remain anonymous, Ripple’s creator Chris Larsen has been very open about who he is and where he lives (he even went on CNBC!).