RATE Group | What is Ripple? Experts say Ripple’s XRP is not a “real” cryptocurrency
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What is Ripple? Experts say Ripple’s XRP is not a “real” cryptocurrency

21 Jul What is Ripple? Experts say Ripple’s XRP is not a “real” cryptocurrency

Posted at 20:59h in Cryptocurrency News by

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Ripple is far more than simply a “poor man’s Bitcoin”. Despite the host of cryptocurrency copycats on the market right now, Ripple isn’t simply copying the status quo. This currency exchange and remittance network actually has a lot more complexity to it than first meets the eye.

READ NEXT: How Bitcoin works: Everything you need to know about the cryptocurrency and the blockchain

In fact, Ripple has garnered quite a bit of controversy recently. Experts are at loggerheads as to whether Ripple actually constitutes a “real” cryptocurrency. Most recently, Anatoly Castella, CEO of Elpis Investments, spoke to the Express, asserting that Ripple’s XRP (its token) is neither a “Digital Fiat” nor a “real” cryptocurrency. 

Ripple, maintains Castella, doesn’t fall under the “purest interpretation of ‘cryptocurrency’.” What it is, is an ambiguous hotchpotch of entities: “Ripple resembles a fintech platform combining the best elements of fiat money and Blockchain cryptocurrency,” explains…

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