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Who Is Behind Ripple?

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Who Is Behind Ripple?

Ripple Labs’ products are based on XRP, the native cryptocurrency. In addition to its products for payment settlement, asset exchange, and remittance systems, it also provides services for international money transfers and security transfers through a network of banks and financial institutions.

Is Ripple Backed By Anything?

A group of independent participants maintains the XRP Ledger. It is essential that independent validators agree (consensus) on each transaction in order for it to be successful. Any entity can validator its data as part of its operation.

What Company Is Behind Ripple?

Type

Private

Area served

Worldwide

What Is The Technology Behind Ripple?

A blockchain-based digital payment network and protocol, Ripple is backed by its own cryptocurrency, XRP. In contrast to blockchain mining, Ripple uses a consensus mechanism, which is shared among a group of servers owned by banks.

Why Is Xrp A Bad Investment?

XRP is not decentralized like Bitcoin or Ethereum, but rather created by a single company, Ripple Labs, which is why people consider it to be bad. The fact that this coin is so new gives many investors pause, making them question whether they should invest in it.

What Did Xrp Do Wrong?

XRP, a cryptocurrency owned by Ripple, was allegedly sold as an unregistered security by the SEC. XRP is a security, not a commodity or other type of asset, as it was created, distributed, and sold by Ripple in a centralized manner, according to the SEC.

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Article Categories:
Intro to Crypto

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