The centralized cryptocurrency XRP was created by the company Ripple Labs, with the aim that the global banking system could use the power of blockchain technology, To improve the method of cross-border transactions.
Unlike Bitcoin and other cryptocurrencies, Ripple does not operate as such under blockchain technology. Instead, it uses DLT (Distributed Ledger) technology in parallel to its own consensus protocol. All this works for him to perform the validations of the transactions that they execute within the RippleNet system.
The name of this procedure is the Ripples Protocol Consensus Algorithm (RSPCA). In this way, RippleNet has special servers that are responsible for the validation of the transactions and the crypto XRP tokens.
These servers do not provide a reward like Bitcoin and most cryptocurrencies. Rather, it is a network that is managed by independent servers.
This form of structure makes Ripple very centralized. Most of the XRP nodes are owned by the same financial system, which makes use of the system and the company Ripple Labs.
Likewise, it is estimated that more than 60 percent of the tokens are in the hands of their own developers.
Since the launch of XRP, Ripple has a pre-mine in which 100 billion XRP tokens were generated. If necessary, the system allows the creation and issuance of many additional tokens. The interesting thing about that premise is that XRP is not actually mined, and its emissions are controlled by Ripple Labs in its entirety.
Will XRP get to the value of $ 20?
What is the value of XRP right now? The XRP price as of today is $ 0.732 US dollars. XRP can be purchased at any exchange that offers digital currencies. Although it currently has a very low value, some experts have made their XRP prediction where they establish that Ripple can double or triple its value in an easy way.
It could even have much more value since the success has been so good that it has made the currency less vulnerable to the volatility of the cryptocurrency market. If this market and the XRP value remain strong, you might think that their value could exceed $ 20 in a not too distant period.
Will Ripple XRP make it to $ 1,000?
Experts estimate that xrpusd is unlikely to hit $ 1,000 in the near future. For cryptocurrency XRP to reach that value, its market capitalization would need to reach $ 100 trillion. That will not be seen very soon.
Although such predictions so far appear to be correct, the cryptocurrency market has shown that it can reach indescribable values that have never been estimated. Just look at the XRP news to validate this claim.
Can I be a millionaire with XRP?
One of the most unpredictable markets in the world is that of cryptocurrencies, which is why it is a very difficult game to invest in it. At a certain moment, it can increase its value to the sky, reaching unthinkable values , and in fractions of a second, it can collapse, generating a nest of destruction. Consequently, it cannot be certain whether XRP can make you a millionaire or not.
The correct thing is that people should not invest more money than they can afford because there is always the risk of losing all the money in the face of a strong fluctuation in the market. It should also be considered if it is really worth investing in the world of cryptocurrencies, although it can be a very profitable business. Many people have found it to be an excellent investment.
Where can you see XRP news and information?
There are endless pages on the web where you can see important information and the latest news regarding the XRP cryptocurrency. Even on social networks like XRP Twitter, you can find detailed information about the latest events in the world of cryptocurrencies.
On platforms such as XRP Reddit, there have been interesting discussions based on this important cryptocurrency, in which users indicate if it is a good time to invest in XRP. Even leading experts publish their predictions on the behavior of the value of cryptocurrencies in the short, medium, and long term.
Likewise, in the sites specialized in the exchange of cryptocurrencies, you can also read relevant information about the behavior of XRP, and you can receive recommendations from the same platforms.
Websites like XRP coinbase have taken on the task of informing users about each of the cryptocurrencies that they offer on their interface. Thus, users will be able to carry out their transactions with knowledge about the process they are carrying out.