What is the difference between Ripple and XRP?

By August 31, 2018 No Comments
Ripple XRP Cryptocurrency Exchanges

What is it?
Ripple is a technology company that is tackling the challenge of money transmission globally by generating effective solutions.
XRP is an independent virtual asset that is powered by XRP Ledger, its underlying, open source blockchain technology.
How are Ripple and XRP related?
Ripple is a software organization that utilizes XRP and its underlying technology, XRP Ledger it xRapid, one of its products. It does not, in any manner, exert influence over the virtual asset or the technology that powers it.
It is impossible for the XRP Ledger to be controlled by any individual entity and so it is independent of any single person or company, including Ripple.
Who controls whether it succeeds or fails?
The board, founders and employees of Ripple are in control of its activities which lead to, their success or failure.
The traders, investors and anybody who deals with XRP in addition to all those who use its technology or have contributed in any capacity to the digital asset or the XRP Ledger are in control of its chances to succeed or fail.
Who utilizes its product/services?
Ripple’s products are utilized primarily by financial institutions.
XRP can be utilized by anybody ranging from an investor to a merchant. One can constructively build on the XRP Ledger and move to list XRP as a tradable digital asset on one’s virtual asset exchange like Belfrics.
Who owns it?
Ripple is owned by its founders, directors, and employees who are in possession of Ripple stock. It is possible for XRP to be owned by anybody.

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