What is ripple and how does it work?

Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP. Ripple's main process is a payment settlement asset exchange and remittance system, similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies.

How long has ripple been around?

The concepts behind Ripple reportedly predate Bitcoin by four to five years. In 2004-2005, Ryan Fugger, a Canadian computer programmer, developed RipplePay as a way to provide secure payment options to members of an online community via a global network.

Is Ripple a real cryptocurrency?

You may hear some say that Ripple is not a “real cryptocurrency,” but that’s not exactly correct. Even though Ripple is somewhat different, it does fit the definition of a cryptocurrency, which is a digital token built upon a decentralized ledger that allows for the peer-to-peer transfer of value over the internet.

What is the difference between Ripple and XRP?

Ripple is a fintech company that builds global payment systems, while XRP is an independent digital asset that can be used by anyone for a variety of reasons including to send remittances or make online payments. Former Yahoo executive Brad Garlinghouse was appointed as Ripple’s first chief operating officer in 2015.