The payments challenger: Ripple was created in 2012 in San Francisco. It is first and foremost a protocol that enables digital payments between financial institutions. It therefore enables money transfers thanks to blockchain technology using a digital currency that aims to offer fast, secure transactions. The inspiration of its directors, Jed McCaleb and Chris Larsen, comes straight from the inescapable Bitcoin. However, while the queen of crypto is completely decentralized, this is less true of Ripple.

In fact, a large proportion of the tokens in circulation are reserved for large customers and institutions. This means that Ripple has considerable control over the monetary issuance policy for the token in question, which is not the case for Bitcoin, for example. The decentralized philosophy advocated by Bitcoin cannot be completely duplicated by Ripple. It offers a solution that provides a blockchain-based protocol for exchanging assets and sending funds for payment settlement, in other words, it competes directly with the SWIFT protocol.

Thanks to its long history, Ripple has collaborated with banking giants such as American Express, BBVA, Crédit Agricole, HSBC.... But, as mentioned above, from a decentralization point of view, it gets a bad press. Indeed, very few validators are authorized to operate, as they are chosen by Ripple.

Features :

The platform's digital currency is XRP. The purpose of the Ripple protocol is to act as a "bridge" between two currencies. Typically, it is used to transfer money from an "A" account based in country "1" to a "B" account in country "2". The company has therefore set up 2 fees: gateway and transaction. A large number of operations can be carried out on Ripple, with the added benefit of fast transaction execution. Ripple is based on a consensus called "Proof of Correctness" (PoC), which validates transactions through a system of votes.