Topic: XRP as currency - page 2. (Read 1495 times)
I am surprise that it is in the top 10 when it is not a decentralized crypto currency at all,although looks profitable I don't want to invest here,because they still have a full control of everything,what makes them legit are the people who runs them who are proffesional in their industry.
My understanding of Ripple is that XRP is not being touted as a currency (with no plans currently), but that it is used in transactions such that all other items of value can be denominated in XRPs, to facilitate exchange. In addition since there is a ledger protocol, it can process the types of transactions already being used by the banking industry while using XRPs to facilitate (if this understanding is wrong, please elucidate).
But if you had to evaluate XRP only as a currency, whether or not that's how the founders intend it, how does it compare to others, eg bitcoin and ether (in terms of security, speed, etc)? I don't know if any merchants accept it as payment now, but is it plausible in the future? Supposedly transactions occur more quickly than some of the others? I realize that since it is not decentralized, more currency could always be created, but it would not be to their interest to do so, now or in the future. However, is that a security concern, that someone could hack it and increase its circulation (unlike bitcoin or ether, which would require massive mining power)?
But if you had to evaluate XRP only as a currency, whether or not that's how the founders intend it, how does it compare to others, eg bitcoin and ether (in terms of security, speed, etc)? I don't know if any merchants accept it as payment now, but is it plausible in the future? Supposedly transactions occur more quickly than some of the others? I realize that since it is not decentralized, more currency could always be created, but it would not be to their interest to do so, now or in the future. However, is that a security concern, that someone could hack it and increase its circulation (unlike bitcoin or ether, which would require massive mining power)?
I think it won't ever become a proper cryptocurrency. As I understand, at the moment it is used exclusively by banks for settlements and contacting each other. It also lowers processing costs (don't really understand how that works). It is successful, but it is very different than say, bitcoin. Not sure if it can be "hacked," just some kind of system.
My understanding of Ripple is that XRP is not being touted as a currency (with no plans currently), but that it is used in transactions such that all other items of value can be denominated in XRPs, to facilitate exchange. In addition since there is a ledger protocol, it can process the types of transactions already being used by the banking industry while using XRPs to facilitate (if this understanding is wrong, please elucidate).
But if you had to evaluate XRP only as a currency, whether or not that's how the founders intend it, how does it compare to others, eg bitcoin and ether (in terms of security, speed, etc)? I don't know if any merchants accept it as payment now, but is it plausible in the future? Supposedly transactions occur more quickly than some of the others? I realize that since it is not decentralized, more currency could always be created, but it would not be to their interest to do so, now or in the future. However, is that a security concern, that someone could hack it and increase its circulation (unlike bitcoin or ether, which would require massive mining power)?
But if you had to evaluate XRP only as a currency, whether or not that's how the founders intend it, how does it compare to others, eg bitcoin and ether (in terms of security, speed, etc)? I don't know if any merchants accept it as payment now, but is it plausible in the future? Supposedly transactions occur more quickly than some of the others? I realize that since it is not decentralized, more currency could always be created, but it would not be to their interest to do so, now or in the future. However, is that a security concern, that someone could hack it and increase its circulation (unlike bitcoin or ether, which would require massive mining power)?
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