Well, it is indeed true that it all started with the Bitcoin but, it is not the only option that you can rely upon to enter into the profitable world of cryptocurrencies, as several other cryptocurrencies referred to as the ‘altcoins’ have started appearing in the market. It is calculated that there are more than 900 of these available today for the eager pursuers, out of which few like the Ripple are very prominent and as well as very reliable. If you are willing to enter into the world of cryptocurrency investment practices with the help of Ripple then, do check this out and, also, these wonderful facts about them to make your choices the better!
- It’s also called XRP
When somebody says that they have invested in the digital coin known as the XRP, please don’t be confused or consider them a yet another digital coin because all they are referring to is our very own ‘Ripple’. Yes, XRP was the name offered to this popularly growing digital token known as the ‘Ripple’, which with time changed to undertake the name of the payment network introduced by the company. The company called Ripple Labs that introduced this digital token XRP, referred their payment network in where the coin XRP was used as the Ripple, which later also became the name of the asset as it was easier and fancier than the name XRP.
- Owning the token Ripple is not mandatory to access the Ripple network
As stated earlier, the Ripple network is the payment system introduced by the company called the ‘Ripple Labs’ which is faster and more secure even than the Bitcoins network. The advantage of using this network doesn’t end there. Unlike the other cryptocurrency networks, in here, the usage of the in-house currency aka the XRP or the Ripple is not mandatory to access the network. But, if used, you can enjoy more cost-efficiency, favorably!
- More ripple to be available in the coming years
It is estimated that as of early 2018, at least, 60% of the ripple’s stake is held by the parent company Ripple Labs itself, which disrupts the meaning of decentralization, the very advantage of the cryptocurrencies, according to the experts. But, the company has some other greater purpose in following this method, which is to allay the concerns regarding the crash of these cryptocurrencies and their market value. That is, instead of dumping all these tokens into the market at one go, the company has decided to put 55 billion XRP into escrow by setting up 55 different escrow contracts, which over the next 55 months would expire at the rate of one contract per month. By doing so as nearly as 1 billion XRP is made available to the market, slowly, yet steadily to control the market crashes associated with them, favorably!