The Ripple project is actually older than Bitcoin itself. Fugger conceived of idea the intent being to create a monetary system that was decentralized and could effectively empower individuals and communities to create their own money. All money in Ripple is explicitly represented as debt, with transactions simply consisting of balances being shifted on a series of imaginary credit lines from the payer to the receiver.
Fugger's first iteration of this system, RipplePay.com debuted in 2005 as a financial service to provide secure payment options to members of an online community via a global network.
This led to the conception of a new system by Jed McCaleb of eDonkey network, which was designed and built by Arthur Britto and David Schwartz. In May 2011, they began developing a digital currency system in which transactions were verified by consensus among members of the network, rather than by the mining process used by bitcoin , which relies on blockchain ledgers. This new version of the Ripple system was therefore designed to eliminate Bitcoin's reliance on centralized exchanges!!... Use less electricity than bitcoin , and perform transactions much more quickly than bitcoin . Chris Larsen, who had previously founded the lending services companies E-Loan and Prosper, joined the team in August 2012, and together McCaleb and Larsen approached Ryan Fugger with their digital currency idea. After discussions with long-standing members of the Ripple community.
Up until now Bitcoin has been, by far the most powerful contender in the cryptocurrency market.
So I explain the idea how they Create it this new CryptoCurrency now i would like to talk more about Market and how this thing work's and for all those new investor's and new guy's who are here investing and creating panic with thier Ridiculous Comment's.
So Right now i will explain you in some steps how this work's.
I Know a lot of them Think this coin only will stay 1-3$ Beacuase is ''Bank Coin''.
We see a lot of Investor's who are afraid and they are afraid from one pullback and they sell all of them cuz they think the market will go only Uptrend.
Biggest Mistake of all New Investors that they make, trust me the market will never go only Uptrend so it will has downtrend is the market thing that does.
So People i just wanted to share my idea and experience i have in market.
Ripple has been increasingly adopted by banks and payment networks as settlement infrastructure technology, with American Banker explaining that from banks perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin ," including price and security.
XRP is the third largest coin by market capitalization.