04 Aug '13, 1am

Virtual Currency Trading Wars: Bitcoin Versus Ripple XRP - via @coinsetter

Virtual Currency Trading Wars: Bitcoin Versus Ripple XRP - via @coinsetter

Our first roadblock in understanding Ripple was understanding what XRP is. Early statements made about it indicated that it was like a “postage stamp” used to pay for transactions. After learning more about it, we realized that this was legal mumbo-jumbo and wasn’t really true. XRP is a digital currency. More interestingly, it’s a digital currency with an embedded use, which is to pay for Ripple transactions, create Ripple accounts and be a currency of last resort in the Ripple system. For transactions that have inefficient trust relationships, XRP is the currency that lubricates the Ripple system. Although Bitcoin is still a good benchmark currency within the Ripple network, XRP transfers aren’t subject to delayed settlement like Bitcoin transfers within Ripple are by nature. This makes XRP a very interesting currency from a valuation standpoint. Whereas Bitcoin has no in...

Full article: http://blog.coinsetter.com/2013/04/29/virtual-currency-tr...

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