Ripple

Ripple is a cryptocurrency platform with significant differences from similar systems. Within the framework of the platform, its participants pay between transactions that are signed using cryptographic methods nominated in internal tokens or in fiat money.

Initially, Ripple only recorded the registry entries and did not have enforcement powers. Now, the system is integrated with protocols for checking banking services and participants. To start interacting with the system, you need to enter data about other platform participants that you trust.

Technical platform features

The platform has a number of significant differences from other cryptocurrency systems. To understand the features of the project, you need to look deeper into the detail. Below, we take a look at the key technical details.

Gateways

The operation of the Ripple platform is based on the concept of a “gateway”. This implies a user of the system, which allows other participants of the platform to invest funds or take them from the liquidity basin. The gateway accepts assets from “contributors” and issues balances to the registry of the platform. In essence, the gateways act as peculiar banks that form the Ripple registry.

Ripping, trust lines and creditworthiness

To be able to conduct transactions on the network, its participants need to “develop trust” into the gateway. The latter will also have to impose restrictions on the user and form restrictions on all deposits in this gateway. The cost of a Ripple depends largely on the creditworthiness of the gateway used.

Consensus registry

The platform depends on a general registry, which contains information on all company accounts. The main work is performed by two servers. They compare their transaction records online. Servers can belong to market makers or any financial

Registry security

The developers of the Ripple project convince everyone that the registry will work stably and safely if the validator settings are made correctly. The authors of the platform consider their offspring absolutely safe, reliable and well protected from hacker attacks.

Interesting nuances

One of the major advantages of Ripple is the ability to use the platform for transfers in different currencies. The system works reliably and stably. The operations inside the Ripple are completely safe and reliable. Transfers within the platform are carried out only between users who have accounts. All transactions are performed without the participation of any intermediaries.

Ripple checks the status of the account balance and the account itself to make a payment in a matter of a few seconds. After that, a notification is sent confirming the successful completion of the transaction. The platform algorithm does not allow to seize or freeze the funds involved in payments.

Any user has the opportunity to become a market maker. To do this, it is enough for the individual to start providing arbitration services to other members of the network. These may include ripping and market liquidity.

Ripple and trading

The coins of this platform have the trust of many users. During their existence, they have experienced several periods of a significant price increase and price drop. Currency is highly volatile. Due to this, it is convenient to use it for speculative transactions in the cryptocurrency market. Using Ripple as a financial instrument, you can earn good money. Many traders around the world have managed to use the volatility of this digital currency to generate high profits.