Hi friends, today I am going to give some interesting history of This powerful coin XRP.
What is XRP? Everyone knows that it's a digital currency. Apart from this, I will give you some interesting stories about this.
In 2014 it was introduced by the company name ripple Labs. Their main product is Ripple Connect software. it is an ERP software to connect all the banking transactions throughout the world. It is working under the system of Interledger. All banking transactions can be done through this software. By using this software throughout the world banking transactions will have standard entries. So for making payment transactions they introduced this XRP coin.
Usually, most of the currencies are de-centralized operating under the blockchain method. But this XRP is 90% decentralized and 10% centralized. The majority of stakeholders are the founders.
For each buys and sells transaction the transaction fee was burnt due to control the supply of this coin. When they reduce the supply automatically demand this coin will exist forever. It's one of the best technology in the banking sector. Its speed is unbelievable. Because of this many banking sectors are using this software. And naturally, when one super comes automatically competitors are also there. But still, now nobody is able to compete with that. Still, it is in the top 10.
XRP is not done through mining, because it is running through a unique way of Ribble transaction protocol. So to get the approval for this 80% vote to be polled for approval. Voting power is high, naturally validating is also high. So it will always have its own energy in the crypto world.
What is the current position of this coin? Dec 2020, US security exchange penalized them for $ 1.3 billion. Because while starting the company Ribble labs Sold XRP as a commodity instead of Equity. This is the basic controversy for this penalty. still, the case is going on. We don't know what will happen to this?
But if the Company won, once again XRP's journey will start and it will reach the sky very soon. Because while using this currency in 2014 it reached 875% within 1 year. So we all have to wait for this what is going to happen.
This is the history of XRP. Hope i gave you some interesting news about this.
Pls vote to me.
Very interesting article!!!
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