The introduction of XRP has brought a new revolution in the currency industry. It is a derivative of a currency like the dollar, euro, or British pound and it serves as a functional bridge between currency trading firms. The concept behind the trading is called the Ripple Consensus Ledger (RCL). Ripple has released this ledger to the open market because the people who have been working for Ripple are quite happy about the successful results they have received from it.
Ripple is a provider of the software solution and it is used by the large corporations and many of the most reputable financial institutions in the world in order to establish decentralized online payment systems. This company has been founded on the idea that the network protocols should be decentralized. The central banks are no longer able to control the cryptocurrencies that circulate freely and hence, the role of the central banks and the currency trading firms has diminished. So, the Ripple Consensus Ledger was created. It is based on the distributed ledger technology that Ripple uses in its network. Ripple claims that there are no restrictions as far as its protocol goes and therefore, no issues arise.
Ripple is a leading developer of RCL solutions for banks and financial companies. It believes that the currency market is the largest and the most liquid market in the world. Ripple is also known as the “open source currency”. It is said that it is already tested and implemented by several banks and the largest financial firms in the world. They are used in a wide range of industries and have the potential to become the major source of funding in the cryptocurrency market. The success of this product will be the birth of a new kind of business.