Asked by: Antal Veliz
business and finance currencies

What is the difference between Bitcoin and XRP?

Last Updated: 22nd May, 2020

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Difference in utilizing
Bitcoin is used in the capacity of money.The Ripple network is a totally decentralized currencyexchange, while Bitcoin entails centralized ones. It meansthat users are intended to exchange XRP for USD; it'spossible to do that within Ripple network without anyintermediaries or third parties.

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Similarly, it is asked, what does XRP stand for?

Ripple is a technologythat acts as both a cryptocurrency and a digital payment networkfor financial transactions. It was first released in 2012 and wasco-founded by Chris Larsen and Jed McCaleb. The coin for thecryptocurrency is premined and labeled XRP.

Similarly, who owns XRP ripple? Jed McCaleb, another Ripple co-founder, left thecompany in 2013 but retains 5.3 billion XRP as ofFebruary 2016. Because of an agreement which limits his dailytrading volume, he is not able to access all of these holdings;otherwise, he would also be a billionaire.

People also ask, is XRP anonymous?

Ripple's XRP is a peer-to-peer, private, centralizedcryptocurrency based on the blockchain, which makes it drasticallydifferent from Bitcoin. Ripple is the only corporateblockchain solution in the world for global payments.

How many XRP are there?

Ripple says there is a distinction betweenit, a private company, and XRP, which is the native digitalcurrency of an open source network known as the XRP Ledger.There has often been confusion between the two. Of the 100billion XRP tokens in existence, Ripple owns60 percent.

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