Introduction: After the inception of bitcoin, open-source blockchain technology enabled developers to form a range of new cryptocurrencies. These new altcoins experienced large-scale user adoption, simultaneously growing market value. A popular category of altcoins - Ripple.
In 2012, San Francisco-based Ripple Labs created a payments protocol and a cryptocurrency entitled as Ripple. Ripple Labs is basically a venture capital-backed start-up, evolving global payment systems for financial institutions.
Known more for its digital payment protocol than its cryptocurrency, XRP. Ripple functions on an open source and peer-to-peer decentralized platform that allow a smooth and continuous transfer of money in a variety of forms - whether it’s USD, Yen, litecoin, or bitcoin.
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