Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time. Ripple was originally founded by a single company, Ripple Labs, and continues to be backed by it, rather than the larger network of developers that continue bitcoin’s development. It also doesn’t have a fluctuating amount of its currency in existence. Where bitcoin has a continually growing pool with an eventual maximum, and Ethereum theoretically has no limit, Ripple was created with all of its 100 billion XRP tokens right out of the gate. That number is maintained with no mining and most of the tokens are owned and held by Ripple Labs itself — around 60 billion at the latest count. Even at the recently reduced value of around half a dollar per XRP, that means Ripple Labs is currently sitting on around $20 billion worth of the cryptocurrency (note: Ripple’s price crashed hard recently, and may be worth far less than $60 billion by time you read this). It holds 55 billion XRP in an escrow account, which allows it to sell up to a billion per month if it so chooses in order to fund new projects and acquisitions. Selling such an amount would likely have a drastic effect on the cryptocurrency’s value, and isn’t something Ripple Labs plans to do anytime soon. In actuality, Ripple Labs is looking to leverage the technology behind XRP to allow for faster banking transactions around the world. While Bitcoin and other cryptocurrencies are built on the idea of separating financial transactions from the financial organizations of traditional currencies, Ripple is almost the opposite in every sense. XRP by Ripple price can be found on this page alongside the market capitalization and additional stats.
Our world is composed of a myriad of communities from the individual to a family community to larger communities of the workplace and society. From now on, these communities will be connected through decentralized blockchains and these blockchains will be closely linked to another community’s blockchains, ultimately forming an ecosystem. The Davinci Project enables everyone to use a highly efficient, fast, secure and simplified payment system among nations while also minimizing the complexity of financial and accounting verifications. Also, a strengthening global trade and investment system has collapsed the boundaries of national currencies. Moreover, the credit information of foreign companies will be transparently managed. In addition, the distributed networks will have tightened security and reduced costs. Surplus resources will be shared. The transaction histories of real estate will be digitized and will also be managed transparently. The Davinci Project will be the foundation for industries such as voting, prediction systems, firearm security, human resources, insurance companies, Internet of Things (IoT), energy, education, donations, and so on. The Davinci Project was created to construct an ecosystem that encompasses cultural, artistic and other various fields, while linking domestic and international exchanges in the network from the private sector.