What is Ripple? Technically speaking, is Ripple a cryptocurrency in the mold of Bitcoin? The short answer is probably “no,” but that doesn’t stop it from often being lumped into that same category.
What is Ripple?
Originally released in 2012 as a subsequent iteration of Ripplepay, Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network. Using a common ledger that is managed by a network of independently validating servers that constantly compare transaction records, Ripple doesn’t rely on the energy and computing intensive proof-of-work used by Bitcoin. Ripple is based on a shared public database that makes use of a consensus process between those validating servers to ensure integrity. Those validating servers can belong to anyone, from individuals to banks.