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⏰ Time Stamps ⏰
1:45 Hard Fork Arguments
2:47 Ethereum Classic Features
4:34 Developer Community
5:47 ETC Currency Dynamics
6:53 51% Attack
7:56 Atlantis Hard Fork
9:05 ETC Markets Update
10:39 EOSIO 2 Update
10:15 Trading & Wallets
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Ripple Website: https://ripple.com/
► XRP Dev Portal: https://xrpl.org/
► Xpring: http://xpring.io/
► GitHub: https://github.com/ripple/
► Running a Validator: https://xrpl.org/run-a-rippled-validator.html
► Lawsuit Docs: https://bit.ly/39KcTHw
📱️ Socials 📱
📝 Simple Overview 📝
XRP is the native cryptocurrency of the XRP ledger which is an open source distributed ledger which was initially developed by Ripple labs.
The XRP Ledger is used in Ripple’s technology solutions and XRP is envisioned as a settlement mechanism in these networks.
And, the XRP ledger was designed by Ripple and a large proportion of the XRP supply is still in the hands of the company.
⚙️ Technology ⚙️
The XRP Ledger is an open-source distributed cryptographic ledger that is powered by a peer-to-peer network of servers. The XRP Ledger is decentralised as anyone can run a validator node. It is also secure and censorship resistant. No single entity can reverse a transaction or fail to process a new one.
The consensus mechanism powering the XRP ledger is called the XRP Ledger Consensus Protocol. With this mechanism, a collection of nodes called validators will process transactions and move the network forward. These transactions are processed in “Ledger Versions”.
In terms of the validators, these are basically just servers that will try to keep the network “Trust Based”. Participants will choose these validators which are run by different parties. These are often called the Unique Node List.
💰️ Token 💰
XRP is used in the network as a method to transfer value from one participant to the other.
The total supply of 100 billion XRP were created in 2012. Of these, 80 billion were given to Ripple Labs and the remaining 20 billion were given to the three founders.
In terms of Ripple’s 80 billion XRP, by the end of 2017 the company had placed 25 billion of that onto the open market. They locked up 55 billion of that into a cryptographic escrow to ensure a stable supply entering the market at a predictable rate
XRP is slightly deflationary. Whenever transaction costs are paid or funds are sent to addresses that cannot be recovered, the total supply falls.
There has been alot of contention around whether XRP can be considered a security. The question was brought to the fore again more recently as a number of individuals who bought XRP sued Ripple in a class action lawsuit.
👨💻️ Team, Partners & Development 👨💻
Ripple was founded by Chris Larsen, Jed McCaleb and Arthur Britto. Ripple as a company seems to be doing quite well. For example, they recently completed a $200 million raise in their series C.
Ripple is also spending these funds to expand its reach. For example, last year it completed a $50 million investment into Moneygram.
Ripple has also funded an initiative called xpring which is to invest in startups that build on the XRP ledger. They have also developed their simple unified development.
📈 Trading & Wallets 📈
XRP is listed nearly everywhere. It’s also crossed with numerous other assets including both cryptocurrencies and fiat pairs.
Another really important thing to note is that the trading volume is pretty well spread out across all these exchanges.
XRP is also well supported for wallet storage. Virtually all multicurrency wallets that you can think of will support it. My personal suggestion: get yourself a hardware wallet like a ledger and hodl those keys in cold storage.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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