Ethereum History

? What is Ripple

Ripple is the name of both the digital currency (XRP) and the open payment network through which that currency is transferred. An open source payment system, which is still in the pilot phase. The purpose of the system, according to its Web site, is to enable people to free themselves from financial network restrictions - credit cards, banks, PayPal and other institutions that restrict access to money by paying fees, in addition to currency exchange fees and delays.

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? What will the Ripple Network offer

According to the company's Open Coin Coin OpenCoin, this digital currency addresses the need to keep money flowing freely. A blog was published by the company titled "The Ripple and the Purpose of Money", in which the company outlined a history of money and portability. Pointing to frustration because of the obstruction of these banks and other institutions for the transfer of funds to impose fees and transactions delays. The purpose of the Ribel coin, he says, is to build a decentralized digital currency on the Betcuainian approach, and do so for money as did the advent of the Internet in all forms of information before. "

? How can the RIBLE coin do what the Internet has done before

The chief analyst for Digital Ripple, David Schwartz, explained this as follows, he said

"Today's payment systems are what e-mail was in the early 1980s. Each provider has built its own system for its customers, because if people use different systems they can easily interact with each other. The Ripple Coinage Network is designed to connect different payment systems to each other. "

Schwartz also foresaw the prospect of seeing "big companies lose control over the flow of money from other people just as they have lost control over the flow of information after the advent of the Internet."

? Who is the team behind the Ripple coin

OpenCoin is the company that built the Ribble Currency Protocol, which was shared by CEO Chris Larsen and technical president Jed McCaleb. Where the technical president has considerable experience in the digital currency, and came from the company Mt. Gox, which currently holds the majority of Pitcin's deals in the world. While Larsen was an early participant in the founding and leadership of E-LOAN Financial Online. As for the other developers of the Ripple Team, they also have a great background for Bitquin and other digital currencies.

(Note: Be careful not to confuse OpenCoin and OpenCoin.org, which develops an open-source version of the e-cash system created by David Chum.)

 ? Is the currency of the ripple similar to that of the Betquin

In many ways, yes. The XRP is similar to the Betquin coin, in terms of the digital form of the coin based on mathematical formulas, and has a limited number of pieces which eventually makes it capable of mining. Both types of currency can be converted from one account to another (peer-to-peer or P2P) without the need for any third-party intervention. In addition, both currencies provide digital security to protect against counterfeiting.

? Does this mean that the currency of the ripple is a currency that is competitive with the protein

The location of the ripple coin is a complement to the Betquin coin, rather than a competitor. In fact, the site contains a page from the Ribel to the owners of the Pitkins. The Ripple Network is designed to allow the seamless transfer of any form of currency, whether the dollar, the euro, the pound, the yen or the betcuene. "The Ripple will open many portals for Bitquin users, as well as providing easier ways to connect the Pitcuin with the global trend of finance," said Stephen Thomas, a senior developer of the Ripple Protocol.

? How can Ripel help Pitcairn users

In addition to giving Bitquin more ways to connect with those who use other forms of currency, the Ribel promises to accelerate transactions and increase stability. As a distributed network, RIBLE does not rely on a single company to manage and secure the transaction database. As a result, there is no waiting for cluster assertions, so transactions confirmations can pass quickly over the network. Another advantage of peer-to-peer use is the lack of "central target or failure point in the system".

? How many ripple coins will be

The company plans to create 100 billion riyals in the end. Half of them are due to be released for trading, while the company plans to hold the other half.

 ? Why was Ripple described as "almost free" instead of completely free

The ripple does not collect transaction fees in the same way as PayPal, banks and credit cards. However, a very small fraction of each ripple coin (equivalent to ~ 1/1000 cents) is deducted from each transaction. The purpose of this deduction is to protect the system from trying to place millions of transactions at the same time.

? How much is the value of the ripple

According to the charts, the riyal currency was traded at around 115 per US dollar on May 17, 2013. In early April, the price was around $ 1000 per $ 1, so the currency value is gaining further appreciation.