We learnt that Ripple was actually first launched during 2012, three years after Bitcoin. It was originally built by a company called Ripple Labs based in the America. The main purpose of Ripple was to develop a payment system that could be used by banks to transfer funds both domestically and globally. People sometimes seem to ask Which Cryptocurrency do you prefer Ripple or Bitcoin.
Primarily the Ripple blockchain does not need third parties to confirm and verify transactions, permitting people to send and receive funds on a peer-to-peer basis.
Developed during 2009, popular Bitcoin was the first and original cryptocurrency. It was qualitatively built by an anonymous developer called Satoshi Nakamoto, who wished to develop new global payment system that would permit people to send and receive digital money on a peer-to-peer basis.Anyone in the globe can become a miner by hooking a device up to their computer. In return of time and electricity costs, those who are primarily successful are rewarded with extra Bitcoin.
While sending funds to another person, the Bitcoin blockchain takes actually ten minutes for the transaction to be confirmed. This eventually remains the same no matter where the sender and receiver are generally located. Most of them are interested to run their own exchange platform with the help of Cryptocurrency Exchange Script or by quality Bitcoin Exchange Script.
The familiar Ripple blockchain performs much better than Bitcoin’s. So when sending XRP from one wallet to another, it just takes a few seconds for the transaction to be confirmed. This finally makes ripple a much better alternative to Bitcoin when it primarily comes to the speed of transactions.
In cases when banks are located in developing nations and have to trade in a currency that isn’t familiar, they often have to perform multiple exchanges as there isnot enough liquidity in the global market. By utilizing Ripple, banks can use XRP as a bridge of liquidity, saving institutions lots of time and money. Many people are interested to run their own exchange platform with the assistance of Cryptocurrency Exchange Script or by perfect Bitcoin Exchange Script.
It is illustrated that unlike Bitcoin, this Ripple coin is purely controlled by a company called Ripple Labs. Although they do not have the enough power to amend transactions or control people’s funds, but they do control the supply of XRP.Eventually the Ripple blockchain actively performs much better than Bitcoin. Also they perform faster and cheaper transactions, and more scalable transactions.Bitcoin is still the number one cryptocurrency. They are more suited as a store of value rather than a payment system.