BitCoin Vs Ripple
Ripple is one of the top 3 cryptocurrencies after Bitcoin and Ethereum. We already visited the side-by-side differences of Bitcoin Vs Ethereum. This post specifically discusses the side-by-side comparison of Bitcoin Vs Ripple.
|
Sr. No.
|
BitCoin
|
Ripple
|
Contributor
|
|
1
|
Generally
referred as BTC
|
Generally
referred as XRP
|
|
|
2
|
Released
in 2009
|
Released
in 2012
|
|
|
3
|
BTC
transfer to recipient account via a ledger updates
|
Settlement
of IOUs via a ledger update
|
|
|
4
|
Bitcoin
BTC itself is a cryptocurrency and needs exchange to trade bitcoin.
|
On Ripple
network, Ripple XRP can be exchanged in any currency viz. Bitcoin, crude oil,
gold etc. Now XRP are available on most of the crypto exchanges as well.
|
|
|
5
|
Nearly
$80B market capital
|
Nearly
$10B market capital
|
|
|
6
|
21 Million
max BTCs available
|
100
Billion max XRPs available
|
|
|
7
|
SHA 256
hashing algorithm
|
SHA 512
hashing algorithm
|
|
|
8
|
Takes
around 10 minutes for a single transaction
|
Takes
< 4 seconds for a transaction.
1000 transactions per second on RippleNet |
|
|
9
|
BTC a
truly decentralized system
|
XRP is
controlled by company called Ripple (Labs)
|
|
|
10
|
Primary
use-case as an alternative to traditional money
|
XRP
use-case is to digitize financial transactions among financial institutions
or banks
|
|
|
11
|
Mining of
bitcoin is a crucial part of this cryptocurrency. Transaction fees are paid
to miners.
|
XRP tokens
as transaction fees are burned. All XRPs are pre-mined.
|
|
|
12
|
Disclosure: I owned few Ripple XRPs at the time of writing this article.
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