How the Ripple platform works

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Ripple is currently the second most valuable digital currency on the market, second only to Bitcoin.

Ripple is both a payment network and a cryptocurrency. It uses blockchain technology, but is differentiated from other platforms by its ties with legitimate financial institutions, reports CNN Money.

Ripple's currency is known as XRP and is not mined by users; the company has control. The company initially created 100 billion coins, with 38 billion currently in circulation.

The rest of the coins will reportedly be released into the market gradually up to a billion XRP tokens a month.

Other cryptocurrencies have a stored value and can be used to buy goods and services. But XRPs mainly cover transaction fees as an anti-spam measure, and are destroyed soon after.

Ripple's main purpose is to facilitate global money transfers. Banks take 3 to 5 days to process cross-border payments, but transactions on the Ripple network are cleared in only 4 seconds.

The platform also boasts low fees, and can handle up to 1,500 transactions per second, compared to only seven on Bitcoin.

By and large, the core function of Ripple is markedly different from other cryptocurrencies available in the market. Whether or not it's a good investment is another thing entirely.

RUNDOWN SHOWS:
1. Ripple payment network and cryptocurrency uses blockchain tech, has ties to financial institutions
2. XRP controlled by one company, not mined like other cryptocurrencies
3. How XRP functions differently from other cryptocurrencies
4. Ripple facilitates cross-border payments

VOICEOVER (in English):

"Ripple is both a payment network and a cryptocurrency. It uses blockchain technology, but is differentiated from other platforms by its ties with legitimate financial institutions."

"Ripple's currency is known as XRP and is not mined by users. The company has control, initially creating 100 billion coins, with 38 billion currently in circulation."

"Other cryptocurrencies have a stored value and can be used to buy goods and services. But XRPs mainly cover transaction fees as an anti-spam measure, and are destroyed soon after."

"Ripple's main purpose is to facilitate global money transfers. Banks take 3 to 5 days to process cross-border payments, but transactions on the Ripple network are cleared in only 4 seconds."


SOURCES:
Ripple, CNN Money
https://ripple.com/
http://money.cnn.com/2018/01/02/technology/what-is-ripple-cryptocurrency/index.html