Published on March 5, 2014
An Introduction to Ripple XRP
What is virtual currency? • A virtual economy is an emergent economy existing in a virtual persistent world, usually exchanging virtual goods in the context of an Internet game. • Some examples are : Bitcoins, Litecoins etc
What is Ripple XRP ? • Ripple is an open source person-to-person payment network — a simple way for anyone in the world to send money to anyone else at practically no cost. • XRP is a math-based currency designed to work seamlessly with the Internet. Powered by a global network of computers, XRP is a fast, direct, and secure way to send payments on the web.
Why Ripple ? • Ripple is a decentralized but unified system • You can move money from system to system. Or you can keep it simple in Ripple. • Moving money into and out of Ripple is easy too
How it works?
How you can convert Bitcoins to XRPs?
Benefits as a Payment Protocol Any currency Global Final Fast Wire transfer cost $15 vs. $0.00003 on Ripple Protocol
Ripple XRP users Basic users Merchants Market Makers Gateways
Gateways (What they do?) • Issues local currency balances on Ripple • Balances can be transferred across the ledger without intermediaries • Earns fees as they wish
Summary • Ripple is emerging as a next promising virtual currency. • A simple way for anyone in the world to send money to anyone else at practically no cost. • While Ripple does not charge a typical fee for profit, each transaction does require a small portion of a ripple (equivalent to ~1/1000th of a cent) for security.
Contact us To know more about Ripple and to use XRPs, meet us at • Website : www.tradefast.me • Facebook: www.facebook.com/Tradefast • Twitter : www.twitter.com/tradefastripple
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Now that you have a wallet, it's time to get some funds into it. In our introduction too Ripple, we covered XRP which is Ripple's native currency.
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