Could Ripple be the 'Bitcoin of 2018'?
Ripple set to revolutionise cross-border payments
by Abi Moses on 4th January, 2018 if ($blog_item->blog_updated_date != '0000-00-00 00:00:00'): ?> and updated 4th January, 2018 1:38pm endif; ?>
After an incredible 2017 saw the value of Bitcoin enjoy an astronomical rise, would-be investors are now looking for the 'next big thing' in the world of cryptocurrencies. Some experts believe that Bitcoin could rise further in 2018, with forecasts as high as $100,000. However, with its price currently sat around $15,000, many are looking for a cheaper alternative to put their money into.
One of the lesser-known cryptocurrencies, Ripple, has enjoyed an equally rapid start to the current year. Less than one month ago Ripple was trading at $0.20 but is now $2.24, and climbing!
With Ripple's value climbing almost 40,000 per cent in the past twelve months it has now become the second-largest cryptocurrency by market cap. Only Bitcoin remains above Ripple after it moved ahead of both Ethereum and Bitcoin Cash in December.
So, what is Ripple?
Unlike many other cryptocurrencies that are currently popular in the market, Ripple was created by a private, for-profit company, a company that remains the currency's biggest individual owner.
The currency claims to be a cross-border payments solution for the world's largest financial institutions, based on blockchain technology. The aim is to provide a low-cost, fast, international payment system via its XRP technology.
According to Ripple, high-value XRP transactions can be settled in just four seconds, faster than all other major cryptocurrencies. It is also considerably faster than it can take for a bank to complete a similar transaction – usually a few days.
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