Ripple Profile

 

Summary:

Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native currency called XRP (ripples). Released in 2012, Ripple purports to enable "secure, instant and nearly free global financial transactions of any size with no chargebacks." It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.

In 2014, Ripple defended the security of its consensus algorithm against rival Stellar Network. Currently, Ripple is the third-largest cryptocurrency by market capitalization, after bitcoin and Ethereum.

Used by companies such as UniCredit, UBS and Santander, the Ripple protocol has been increasingly adopted by banks and payment networks as settlement infrastructure technology, with American Banker explaining that "from banks' perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin," including price and security.

(Summary via Wikipedia)

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Exchanges:

Unlike Bitcoin and Ethereum, Ripple is not available for purchase on Coinbase. The process to purchase Ripple's token (XRP) is slightly more complicated. The easiest method at this point is to first purchase a major coin, such as Bitcoin or Ethereum. Once you have that, you transfer it to an exchange that trades XRP. Once you have a balance at an exchange, you can use it to trade for XRP, or any other altcoin. Popular exchanges that trade in ripple are:

Websites:

Website: Ripple.com

Faucet: Ripple Faucet

Wallet: Gatehub

News: Coindesk

Market Analytics: Cryptowatch