One of the most important features of any blockchain database system is its ability to provide transactional functionality to its users using the internet. A very effective way to do so is using a software system which is commonly known as Virtual Currencies or even Crypto Currencies due to their decentralized nature of the surrounding.
In the last few years, a major element of the global financial market has been Blockchain and Crypto Currencies; this has even led to the skyrocketing of the price of Bitcoin in the market which has potentially helped people earn millions in just a few days
Watching this Happen, many similar people have started participating in the market and now almost every minute, thousands of Crypto Exchanges are undergoing with massive infrastructure stresses as the demand soared. Nevertheless, if you are new to the market, you must realize that Virtual Currencies are more like the payment networks that actually serves a purpose of cross border transaction through the internet. To make it simple for you, its simply the process of being able to buy “Crypto” for low prices while selling them at higher giving you the opportunity to earn huge profits.
One thing that you do need to understand is, how the working of crypto is actually done and if it is really worth it or not?
As said before, one of the key things about crypto is that it acts primarily as a payment network that is completely online. This allows you to send or even receive money from anyone around the globe only if you and they share each other’s wallet addresses. However, the story behind the adaptation of this type of Currency was not something that many people were fond of.
In the December of 2017 when the mass adoption occurred, the prices of Coins like Ripple and Bitcoin skyrocketed into the ranges of above 20,000 dollars and in today’s market, buying such a coin is basically a huge gamble since you never know the future.
With such a fast-paced technology growth, a common coin that has been dubbed as the next Bitcoin is Ripple. With the focus on the way, they are able to provide their users with the ability to actually utilize applications on top of their networks to get functionality to work. This means that sooner or later, Ripple will also be accepted as a Payment Network.
What is Ripple ? Is a question that you might ask; Let me tell you that Ripple, which is also known as XRP is one of the virtual currencies that has started to play a very significant role in trading and market capitalization. XRP is also one of the decentralized peers to peer network that offers a digital payment system to many different financial institutions which has made Ripple the sixth most widely used crypto.
Money transfer, exchange operations and transferring of funds in foreign currency are some of the abilities that the ripple protocol allows its users to perform.
This is one of the main reasons why investing currently in Ripple has been in the recommendation, nevertheless, taking the help of a financial advisor is recommended.