For those who have not followed all the financial technology news for nearly 10 years, the title of this article may prove to be shocking. And can honestly ask what ripple. Above all, what is a blind currency. To make it simple and short, a coin is labeled as 100% electronic money, so completely virtual, and does not rely on any market regulation at all.
These alternative models at Bitcoins are called the Altcoins. And they are very numerous. But if the latter, even less famous in the world than the Bitcoin, were able to find a small place on the market of dematerialized currencies, it is essentially for two reasons. First, the very process of making crypto-currencies, by "mining", means that the more the currency is known, the greater the power required of the computers required for complex calculations. Indeed, the small prospectors of this new gold rush are excluded as the notoriety of the currency increases. They therefore turn to Altcoins, demanding less resources. Everyone can not afford to invest € 20,000 in computer equipment and pay € 50,000 in electricity bill per year.
Another phenomenon that exploded the demand for crypto-currencies last spring, the decision of Japan to recognize the Bitcoin as a legal currency. All the investors who missed the train in 2009-2010 therefore rush to everything that moves, and new dematerialized currencies explode in the eyes of the general public. So much so that Bitcoin's market share in these currencies rose from 95% to less than 60%. However, the Bitcoin is doing well. Its parity with the dollar has never been to its advantage, and some specialists even predict a future parity of $ 10,000 for a Bitcoin.
Photo source (Ripple.com).
Beside ripple isn't open source, ripple company have over 70% coin, it mean they dominate market and still easy to control the price
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I know Ripple gets a lot of hate for no being decentralized but I think it is addressing a real problem in cross border payments. I know personally it is such a pain sending money across borders through my bank and the fees are ridiculous. The company itself also has large banks on board and seems to have built a niche.
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