HSBC Exec Joins Ripple

Grayscale, an institutional crypto asset management company, recently released a report analyzing XRP’s coin history, protocol, price, transaction speed and more. According to the report, the early developers of the XRP Ledger focused on creating a fast protocol that challenged established financial systems. Grayscale found that Ripple is less decentralized than BTC and ETH, although it remains the third largest cryptocurrency by market cap. 

What is Ripple?

According to eToro, Ripple is the company behind XRP, RippleNet and the XRP Ledger. Ripple uses open-source technology to beat Bitcoin in speed, and financial institutions and banks in fees. Ripple launched in 2012, and has a market cap of $9,8 Billion at the time of writing. 

There are 100 billion XRP in rotation, 49.9 billion of which are in escrow. There is no mining of XRP, since all tokens are premined so that they can be traded with the lowest transaction costs possible. 

Grayscale Report 

Grayscale wrote,

“XRP sought to eliminate high transaction fees and long…

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