With the continuous downfall of bitcoins, Ripple is emerging as a promising virtual currency. Though there are factors to be consider while analyzing these currencies in digital arena. We tried to figure it out through the comparison.
What is Bitcoin?
Bitcoin is a new currency that was created in 2009 by an
The transaction in these types of currency is made without
any middle men or banks! There are no transaction fees
and also no need to give your real name.
Bitcoin is entirely decentralized, digital, and controlled by
an open-source algorithm way back in 2009, which set the
currency in motion.
What is Ripple XRP?
Ripple is an open source person-to-person
payment network — a simple way for
anyone in the world to send money to
anyone else at practically no cost.
His reach, speed, and affordability are the
advantages of a platform built for the
• Where Bitcoin is ownership based person
to person system, Ripple is built on
interconnected networks of p2p credit.
• The Bitcoin system transfers ownership of
one thing – Bitcoins. But in the Ripple
system, you’re actually sending IOUs that
will be redeemed somewhere else in the
• Ripple is faster than Bitcoin. It only takes a
few seconds to finalize transactions.
• Bitcoin and Ripple use a different method
to reach network consensus process.
• Bitcoin uses mining whereas Ripple uses
an iterative consensus process.
The Bitcoin network tracks the movement
of Bitcoins, but on the other hand Ripple
can track account balances of an existing
• To avail the advantages that
cryptocurrency offers, Ripple is the
solution as it provides increased financial
freedom and privacy, minimal fees,
cryptographically guaranteed security,
and advanced features such as
cryptographically enforced contracts and
brainwallets but do not want to deal with
Bitcoin’s volatile value
To know more about Ripple and to use
XRPs, visit us at :• Website : www.tradefast.me
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