Understanding the Allure of Ripple XRP

Just as is the case with Ethereum, the name of a technology platform and the cryptocurrency it supports often get mixed up. So let’s start with uncluttering the name and figuring out which is the technology and which is the cryptocurrency. Although Ripple is a distributed ledger system, it is NOT a blockchain technology. Blockchain depends on mining either through a proof of work or proof of stake system to validate transactions. Ripple, however, depends on a distributed ledger system run by a network of separate servers which draw comparisons between transaction records and reach a consensus. Despite the difference in operating procedures, the motivation behind Ripple and blockchain technologies still remain the same. And that is the facilitation of quick and seamless transfer of funds between parties without the need for a centralized controlling system. Ripple also provides the blockchain advantage of lower transaction fees, in fact, it does this perhaps better than the more