Kinds of Cryptocurrency – III
What is Ripple? Is Ripple same as Bitcoin? Well, it’s a big NO. Ripple
is a currency exchange and remittance network that uses a common ledger managed by a network and is validated by independent servers. The Ripple Labs, a global money transaction firm which is former OpenCoin, was co-founded by CEO Chris Larsen and CTO Jed McCaleb who is well-grounded in digital currency. Jed McCaleb is currently handling the majority Bitcoin trades in the world. While Larsen used to be the co-founder of the financial company
E-LOAN – the rest of the Ripple developers also have a background
in Bitcoin. Ripple is based on shared public database – a big
difference with Bitcoin that is generated by energy and computing
intensiveproof of work. Ripple is doesn’t use the blockchain
technology, the companies goal is to keep the money flowing freely.
Dash was first launched as Xcoin, then changed its name into
Darkcoin, and in 2015 the Darkcoin has been rebranded into Dash, which is now the 6th biggest cryptocurrency in the world. Dash is a peer-to-peer cryptocurrency that was forked out from Bitcoin engaging to a faster and more private transactions. Dash is the first to have a decentralized blockchain governance system, just like many cryptocurrencies Dash is also trying to solve some of the Bitcoin’s inconveniences. It provides faster transactions and more anonymous service to its users. Dash
transactions are made within 4 seconds, far from the transaction
process of Bitcoin which usually takes 10 minutes to finish.
Dash is also earned by mining, just like Bitcoin.