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The decentralized payment system of Ripple is used mostly by the banking industry for sending and receiving currencies and settling transactions in a cheaper and faster manner compared to the traditional banking setup. Ripple consists of three parts:
- Ripple Labs led by Brad Garlinghouse the company CEO,
- Its payment system termed as RippleNet, and
- XRP token used for fostering peer-to-peer transactions in the Ripple network.
The concept of Ripple was incubated back in 2004 although it did not get launched officially until 2012. This real-time global settlement network which aims to facilitate cross-border payments has grown by 18000% back since January 2017 and houses tremendous potential of overcoming all odds in days to come. In case you are also thinking to buy ripple, I have mentioned in this article a list of cryptocurrency exchanges from where you can buy...
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