But the truth of the matter is that there are hundreds upon hundreds of coins out there at our disposal. One of these is XRP, a digital coin utilized within a network called Ripple.
This particular network has been known to be used by banks and financial institutions alike, not just on trading platforms like their other crypto counterparts. An Introduction To Ripple Ripple is a network designed to make overseas ripple will there be growth much faster and much more secure and efficient. This real-time gross settlement system RTGS is also a crypto exchange and remittance network in and of itself and supports the use of tokens as a representation of fiat currencies, other cryptocurrencies or even other commodities like mobile credit and air miles.
This is conducted on a shared, public ledger database that not only ensures the security of transactions but speed and efficiency too. For this reason, leading banks from across the globe, including Santander and UBS, are starting to pick up this technology and introduce it into projects and developments within their services.
The ledger utilizes the same technology and does have its own coins and tokens as part of the network, but whether the value will ever rise above Bitcoin could be down to a matter of popularity beyond just these institutions and into smaller businesses too. Well, experts suggest that this could very much be possible with just a small rise in the overall prices of Ripple.
Well, the answer is in market capitalization. Is this likely? Volatility makes it difficult to tell, but the potential is always there in cryptocurrency.
For this reason, it could be down to smaller, innovative companies picking up these technologies in order to bring about the vital market cap rise that ripple would so desperately need in order to exceed expectations. Whether Ripple stands a chance at towering over Bitcoin could be a matter of watching the markets in the near future.
As knowledge and interest grow in cryptocurrencies, the safe and arguably more stable nature of Ripple could lead more and more businesses to try and utilize its technology in the future and invest in its coins.
It is used as an alternative store of wealth, for portfolio diversification, and long term investment.
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