XRP vs XRapid: What’s the difference?
The concepts of XRP and XRapid can often be very confusing to people.
Although related, they are quite different and each has its own purpose.
This article will mainly look at the differences between XRP and XRapid along with the pros and cons of each.
What’s the difference?
A summary quoted from the Ripple website: “The XRP ledger is an advanced blockchain-like system designed to allow people to trade in multiple currencies.
XRP Ledger users can seamlessly track, trade and settle multiple currencies as part of an exchange that takes place on their own decentralized network.
In addition, users can issue digital assets similar to their own currency, and there is no obligation for issued assets to be displayed outside of the XRP ledger.
In fact, what brings all of this together is the XRP reflow on the XRP ledger, which acts as a medium of exchange and is used for anti-spam purposes.
In addition, ‘XRP (Ripple)’ is a technology that encompasses both the role of a cryptocurrency digital payment network for financial transactions.
XRapid is the bridging currency of Ripple’s XRP and a liquidity solution for transacted banks.
According to Ripple, XRapid eliminates delays in global payments while significantly reducing costs, making it instant and affordable as a cross-border payment method.
Xrapid users cannot create coins through the mining process.
Instead, the company has issued 100 billion XRP directly and operates on a decentralized blockchain network. This means that investors can buy or sell XRP through the company’s secure system.
Why Trade Ripple?
Ripple has a well-established infrastructure.
XRP’s core protocol provides a cheaper and faster solution than its competitors.
The brand boasts an incredibly fast transaction system that allows users to complete a transfer in less than 3 minutes. These high speeds can save you up to 40% to 70% of your costs.
It is also a well-established protocol that produces highly scalable products that can easily adapt to market trends.
Ripple was found to be the least volatile compared to its competitors.
During the bearish period of the worrying market, Ripple remained fairly stable compared to other cryptocurrencies, losing more than 25-30% of their market cap.