If there is a controversial, controversial cryptocurrency that generates love and hate, it is definitely XRP or as some call it Ripple.
The token is often called Ripple or XRP interchangeably to refer to the cryptocurrency, however, Ripple is the money transfer network, while XRP is the name of the token that such a network uses for its platform.
XRP was first designed by Ripple apps in 2012.
Main objectives of this cryptocurrency
XRP was designed for fast transactions, this is one of its most important objectives, which this wants to compete with the relatively slow speed of the bank processing system.
In fact, it boasts that it can settle transactions between 3 and 5 seconds, it would be like a financial intermediary, to streamline global economic and financial activities.
In addition, it tries to allow access to global financial operations, fast, secure and practically free, so XRP being a cryptocurrency operates as a digital payment network.
Its digital infrastructure is developed so that banking operatorscan comfortably and quickly carry out their transactions, representing the best institutional banking option in cryptocurrencies.
Most cryptocurrencies were designed by users, for users with information from a peer-to-peer network.
That said, we can say that if a network was designed to be corporate this is XRP.
Most outstanding features of XRP
On paper XRP has a maximum issue of 100,000 million coins, however, it is estimated that in the future Ripple could increase this figure as much as they wish.
Another of its features, although a little controversial for some, and is that ripple apps reserve the right and absolute control of XRP, that’s why their moments to issue them and take them out of circulation are so relevant.
Another feature is that unlike bitcoin and most cryptocurrencies, XRP does not work with blockchain technology itself, but uses a technology called Distributed ledger technology (Dielty), which houses its own acceptance protocol.
Ripple net also has its own special servers that are responsible for validating each transaction and of course XRP coins.
Another point to note is that Ripple and many of its followers would say that XRP, is decentralized and is that not everyone agrees and that includes the SEC, which is the body that regulates the entire market issue in the United States.
Controversy surrounding the cryptocurrency
The current opinion of the SEC of cryptocurrencies is that if they are peer-to-peer they are not securities, however, the commission believes that Rippleapps distributed or XRP in a decentralized manner and is therefore a security.
Therefore, the SEC filed a lawsuit against Ripple alleging that it sold XRP with an unregistered value, since then the value of the XRP has been greatly affected, although it has likewise recovered in a dizzying way, being its graph unstable with constant ups and downs.