Skip to main content

Ripple Network Facts by GateHub



What is a Ripple gateway?

“Ripple Gateways are businesses that provide a way for money and other forms of value to move in and out of the Ripple network. Gateways can be banks, money service businesses, currency exchanges, or any other financial institution.” Some gateways, like GateHub, feature a dedicated Ripple client.

What is the XRP Ledger?

It is a public distributed list of all existing Ripple accounts.
The balances and settings of all existing Ripple accounts are listed on every newly created public ledger. A new ledger is created by consensus approximately every 3 seconds which means that transactions on the XRP Ledger are, in general, executed in that timeframe.
What is a Ripple wallet?
A Ripple wallet (sometimes also called a Ripple address or Ripple account) is a public address on the XRP Ledger. Once created, an account exists in the XRP Ledger’s data forever.
What is a Ripple client?
A Ripple client is software that allows interaction with the Ripple network. The interaction with the XRP Ledger is executed through a Ripple address.
GateHub, for example, features an online Ripple client, however, there are also other online and desktop clients with different user interfaces.
GateHub Team

Comments

Popular posts from this blog

Petro – The First National Cryptocurrency

World governments are slowly realizing that cryptocurrencies have come to stay. They are being discussed in   G20 meetings , the United States has been taking every necessary measure in order to regulate and tax cryptocurrencies and, late last year, we even saw the   first regulated ICO   in Canada. It seems progression is being made towards adoption and there are already plans to create the first ever national cryptocurrency. Dubai, the largest and most wealthy city in the United Arab Emirates (UAE), has   plans for issuing emCash , a cryptocurrency that would have become the first ever to be backed by a state or government. However, it seems they were beaten by the punch… El Petro Venezuela will become the first country to have its own national cryptocurrency, the Petro (PTR). The project is backed the president Nicolas Maduro and, according to the   whitepaper , the original idea came from the previous president, Hugo Chavez. He wanted a “strong cur...

DECENTRALIZED FINANCE; WHAT IS IT? – Part 1

      More than t en years gone down the lane, the block chain industry is yet to disappoint with it ever changing nature. Since the early adoption, the industry has since recorded a slow but progressive changes with the latest being the Decentralized Finance also referred to as Defi. What Decentralized Finance? ‘’DeFi is essentially just conventional financial tools built on a blockchain’’-blocknomi. These were previously built on the Ethereum network, but there is a growing number of players in this space such as Waves and Cosmos. ‘’ They are mostly predicated on open-source protocols or modular frameworks for creating and issuing digital assets and are designed to confer notable advantages of operating on a public blockchain like censorship-resistance and improved access to financial services’’ Example of a growing number of Defi Dapps on the waves platform is the Neutrino token - https://beta.neutrino.at/neutrino/usd-n ...