Bitcoin vs Ethereum vs Ripple: Comparing The Cryptos

Bitcoin vs Ethereum vs Ripple: Comparing The Cryptos

Ripple, or XRP, now has a market capitalisation of Dollars 122.7 billion and remains solidly in second place to bitcoin, which has a market value of about USD 251 billion, the website showed. Furthermore, the source code of Ripple's technology is privately owned by the company, another factor that draws the ire of cryptocurrency members.

'This is beyond insane, ' Jeremy Gardner, an investor who used to work at the virtual currency hedge fund Blockchain Capital, told The New York Times. Really, the story was about everything else not named bitcoin.

This rumour prompted the value of Ripple to jump from around $US2.50 per coin to $US3.80 ($3.18 to $4.85) - in other words, it increased by about 50 per cent pretty much overnight. If we exclude bitcoin's market cap from the equation, the aggregate value of every other virtual currency catapulted from $2.24 billion on December 31, 2016, to $374 billion by December 31, 2017.

The price of ripple has increased by 1240 per cent in the last 30 days, from around 25 U.S. cents to $US3.38, surging past bitcoin cash and ethereum to become the second largest cryptocurrency.

So what exactly is ripple, what makes it different from bitcoin, and what's behind the surge in interest? Ripple's website also says that the XRP coin has a four-second settlement time, versus more than two minutes for ethereum and over an hour for bitcoin.

According to Ripple CEO Brad Garlinghouse, Ripple has done very well because it can be very useful for a low-fee payment method.

Ripple is trying to solve this problem via its technology.

Unlike bitcoin, Ripple is a company that has created coin known as XRP that is aimed at enterprises. "We're going to be adding other digital currencies that have their own blockchains and never did ICOs (initial coin offerings) - with the exception of Ethereum". "From American Express to Santander and Standard Chartered, Ripple's adoption by financial institutions is on the rise - which has strengthened the demand for XRP", he said. It's expected that these transactions will settle instantly, which would be a massive improvement over the sometimes days-long verification process banks put cross-border payments through. With most publicly traded stocks, you have the opportunity to buy and sell, as well as short-sell and buy options, in order to make money.

In the Bitcoin vs Ethereum vs Ripple war, there is obviously only one victor in the price department. It is not hugely surprising to learn that Ripple has a message advantage here too, as both Bitcoin and Ethereum have acquired huge backlogs and ecosystems by now. Most cryptocurrencies lack this clearly defined goal - but not Ripple.

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