If you haven’t heard about Ripple yet, you need to learn more. This is actually one of the more exciting virtual currencies online currently because they’ve managed to come up with $2 million in venture capital – quite a bit of money they can use to make sure Ripple outshines Bitcoin and other cryptocurrency alternatives.
The company behind Ripple (also known as XRP) is OpenCoin. When they combined operations with Ripple Labs, they received another $3 million in funding. Many consider Ripple to be big businesses’ answer to cryptocurrencies. The biggest difference between Ripple and Bitcoin (or other virtual currencies) is that it is NOT decentralized.
While that may not sound like it’s a good thing at first, the fact that there’s a central governing body may make it easier for Ripple to become mainstream because it’s more compatible with current financial systems around the world. Another difference will also help with this – that Ripple is not actually a cryptocurrency. This means there is no mining for XRP.
Instead, 100 billion total Ripples (XRP) will be released eventually. One of the biggest problems they’re facing, though, is related to these differences between Ripple and Bitcoin. When you add little or not marketing done to educate the public, they’re going to have a problem getting people to adopt Ripple in place of Bitcoin, Litecoin or any of the other virtual currencies currently popular.
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