Ripple was launched in 2012 by RippleNet, a payment network, by a company to enable decentralized and payment systems to process transactions faster using blockchain technology. Many major banks in the world have joined the RippleNet network and can transfer money faster using RippleNet instead of swift transfers. Banks that use the Ripple platform provide a great advantage over non-banks. Financially, Ripple focuses on "Value of Internet". This means that sending money should be as fast as sending information in the current technological age.
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Ripple's centralized blockchain is one of the fastest in the crypto world. We can say that the processing time is limited to 4 seconds. Besides, Ripple makes the job very easy here when it is desired to send money from one country to another country. By way of example, Turkey must return the reversal in the hands of an individual who wants to send money to Germany EU. It will be able to send this money to Germany, which takes days and costly, using the Swift system via the bank. However, if this money transfer is made with Ripple, we can convert it to TL XRP and then send XRP to the end buyer. An individual or bank in Germany can easily convert XRP into euro using a Ripple wallet. That is, XRP represents a process that allows a currency to be traded easily and quickly against another currency.
Due to the features, we have mentioned above, Ripple cannot be mined. The company to which all Ripple values are in circulation in the market is produced. The company has released 40 billion of the total 100 billion Ripple produced today. The company periodically releases Ripple to the market.