What is Ripple?
Ripple is an online protocol and digital currency which has been created to connect different disparate financial systems. This currency has been made by the Ripple lab which is still in its beta version. According to the people behind ripple coin, the main goal of this digital currency and open source payment system is to provide people a new way of exchanging money without worrying about the security of their money like paper currency, coins, credit cards, banks and other, similar financial insinuations which has been used as currency. The Ripple network has been called by two other different names; Ripple protocol and Ripple Transaction Protocol (RTXP)
The concept of Ripple coin has been introduced by its creator, Ryan Fugger, in 2004. Yes, it is older than Bitcoin and other digital currencies which are being famous now a day due to its growth in the market. The tag lines, goals and objectives of the Ripple lab have been changed the time to time. For example, on its launch in 2004, their main objective was to create an online monetary system for the individuals and companies to create their own money while in 2012 the company has introduced a new objective. According to their new objective, Ripple has been created to provide people a secure way to exchange money and do the financial transaction without worrying about the physical appearance of the currency etc.
The concept of Ripple coin has been introduced by Ryan Fugger in 2004 but the company has been founded by two investors named; Chris Larsen and Jed McCaleb. The Ripple lab has been founded in 2012 after the work of many years. The concept of Ripple coin is older than other popular digital currencies like Bitcoin but it took the time to the founders to officially launch it. Today, Ripple has more than 200 employees which make it a small network of the digital currency but it is being spread all over the world due to its popularity.
Ripple is a digital currency. This means that you can use it in the same way as you use any other currency. Yes, it is true that it is not very familiar with paper currency or even Bitcoin but day by day, due to its growth, today Ripple coins are being accepted by many online shopping stores, banks, and other networks. The companies and banks do not prefer Ripple coin due to the very low fee charged by the company where it does not have any tax. Yes, it is a tax-free currency because it does not have any appearance due to which the government cannot charge any tax on it. Even if it does have any physical appearance, it is still difficult to change any tax because this currency has not been registered anywhere or labeled with any country’s currency.
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