With the mission to allow up-to-date transactions all over the world, Ripple (XRP), the most scalable and fastest cyptocurrency was created. Ripple (XRP) grants users the countable, responsive alternative for cross border transactions.
The White Paper
Even though there are some consensus algorithms solutions for General Byzantine’s problems, especially those related to distributed payment systems, many of the algorithms suffer from high latency due to synchronous communication when all nodes in the network synchronously conduct communication. In this work, Ripple proposed a novel consensus algorithm that bypasses this requirement by optimizing collectively trusted sub-networks in the larger networks. Ripple have shown that the "trust" required by these sub-networks is actually the minimal and can be further reduced by the principled selection of the member nodes. In addition, Ripple have also shown that maintaining consistency throughout the entire network requires minimum connection activities. The result is a low latency consensus algorithm while robustness is still remaining in the face of Byzantine failures. Ripple present this algorithm in its embodiment in the Ripple Protocol.
All transactions are processed and executed fast and efficiently. Payments are settled in 4 seconds.
1,500 transactions are processed by XRP every second. And this happens 24/7 all year round. And a number of deals such as Visa are still within XRP’s scalability scope.
Ripple’s technology is open-source and created by the blockchain protocols. The validators make sure that the system operates flawlessly and at its full capacity.
The stability of technology and governance in the last five years was supreme, and ensures that the system is ready for something bigger, e.g. application for institutions and enterprises.
The price of Ripple (XRP) to USD was originally quite steady. In May 2017, the price started to go up and fluctuate. It later experienced a significant rise and reached the historical high at 3.84 USD on Jan 04, 2018. And after that, it saw a considerable decline while greatly varying.
Ripple circulated in a total of 100 billion XRPs. The total number of XRP is fixed. It is set to 100 billion at the beginning and will not be circulated again. XRP can now be accurate to 6 decimal places. The smallest unit is called a drop. 1000000 drops equals 1 XRP (1XRP=1000000dXRP).
The introduction of Ripple’s leadership team and its members of the board
Brad Garlinghouse is the CEO and a board member of Ripple. Before that, Brad was previously a CEO of Hightail, a software collaboration service. He used to serve as AOL's President of consumer applications from 2009 to 2012 and held various positions at Yahoo. From 2003 to 2009, he served at Yahoo as Senior Vice President. Mr. Brad has served as chief executive of Internet telephony. At SBC and @home Newwork, he positioned as a managing role and as an adviser to Silver Lake's partners.
Ash is vice President of Ripple. Mr. Ash started a management company and sold it to Thomson Reuters. But he continued to serve as Vice President of global technology at Thomson Reuters, helping transform Thomson Reuters into a global leader in online financial content.
Patrick Griffin is playing an important role in the business development of RippleS. Before joining Ripple, Patrick was an early employee of Jumio, an Internet payment company that was mainly responsible for business building, development team and sales management.
Kanen is Vice President of engineering for Ripple. He started developing medical imaging systems at Cerner. He led and developed the Yelp and Quantcast teams, being responsible for corporate partnerships, business analytics, internal applications, and data pipelines.
Brynly Llyr, Brian is the general legal counsel of Ripple. Before joining Ripple, Brian provided consulting services for financial technology companies, and served as a senior legal duty, including as a general counsel of small and medium-sized enterprises likes PayPal and as a senior litigation executive of eBay.
Monica is Vice President of marketing for Ripple. She previously ran public relations for QuickBooks at Intuit. Before that, she worked for a global tech public relations agency where she supported various B2B and B2C startups, including some in the financial technology sector, such as Prosper.