Foundations of Blockchain

Ripple

Ripple is a decentralized ledger-based network that allows the transfer of a digital asset known as XRP. Ripple was launched with the vision and aim of building a cryptocurrency for financial institutions, such as banks, that enables cross-border fund transfer at low cost.

Unlike other cryptocurrencies, Ripple doesn't create a parallel payment system. Instead, it provides a network called RippleNet for the existing payment system to settle global payments. Ripple currently provides three different types of payment solution:

• xCurrent: This is a software solution for sending and receiving cross-border payments between banks with end-to-end tracking; transactions are securely settled in within seconds.
• xVia: This allows users to send ...