How does Ripple differ from other cryptocurrencies?

4 answers

• Nov 26, 2021 · 3 years ago
  Ripple, unlike most cryptocurrencies, is not based on a traditional blockchain. Instead, it uses a unique consensus algorithm called the Ripple Protocol Consensus Algorithm (RPCA). This allows for faster transaction confirmations and scalability compared to other cryptocurrencies.
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• Nov 26, 2021 · 3 years ago
  One major difference is that Ripple is primarily designed for facilitating fast and low-cost international money transfers. It aims to bridge the gap between traditional banking systems and cryptocurrencies, making it more appealing to financial institutions and banks.
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• Nov 26, 2021 · 3 years ago
  From a technical standpoint, Ripple's native cryptocurrency, XRP, has a fixed supply of 100 billion coins, with a portion held by Ripple Labs. This centralized control has raised concerns among some cryptocurrency enthusiasts, as it deviates from the decentralized nature of most cryptocurrencies.
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• Nov 26, 2021 · 3 years ago
  Compared to other cryptocurrencies, Ripple has gained significant partnerships and collaborations with major financial institutions, which has helped increase its adoption and credibility in the industry. This has also led to its integration into various payment systems and exchanges, making it more accessible for users.
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