What is Ripple?
Ripple is a global real-time settlement system It consists of the Ripple Transaction Protocol and the native currency XRP - ripples. It's initial release was in 2012, with their vision to enable "secure, instant and nearly free global financial transactions of any site with no chargebacks".
How does Ripple works
In this example two banks use a correspondent bank to relay their payments. Ripple connects and coordinates information exchange betweeen the banks. The ILP ledger uses inter ledger protocol to coordinate funds movement between institutions to settle the payment.
The solution is to ingest existing message formats such as SWIFT or ISO messaging through a translation layer such as CGI intelligent gateway.
Ripple transaction process
Transaciton layer parses the message and collects neccessary informaiton to initate the payment. Ripple connect communicates with the correspondant and beneficiary banks to receive information about processing fees and total cost of the payment.
In the next step pretransaction validation takes place, which includes screening and account verification checks. Since all banks have neccessary information, they can initate neccessary checks and prevalidate the payment, before the funds move.
After that it's time to coordinate funds flow accross private ILP ledger accroos three constitutions(originating, correspondent and the beneficiary bank).
The originating bank has a Nostr account with the originating bank and beneficiary bank is using a third party liquidity provider to connect with the correspondent bank. To begin the
settlement process Ripple coordinates a hold on the funds accrross all three ledgers. The ILP ledgers create cryptographic signature which can be used to matehmatically prove the funds are available and on hold.
Then the funds are simultaneously released accross the three ledgers.
This process insures no settelement risks - the payment is either executed or failed.
Upon succesful completion Ripple provides a confirmation message to all counterparties.
The entire payment process accross multiple banks takes seconds and provides end to end visibility while increasing processing rates and lowering operational costs.
My doubts about Ripple
I think that Ripple is extremely intresting as a network, and definitelly it could be used to settle transactions between the banks, HOWEVER from an investment perspective, i do not think that Ripple should have any value. The coins were not mined, they were generated by the company Ripple labs and they are the ones selling you their coins on the market and making huge amounts of money. Banks will not be buying Ripples from exchanges such as Poloniex, but from the Ripple themself, and not to mention the transaction fees are extremely low, so not many Ripples will be burnt. I am not saying that Ripple can not increase in value - it might, because it's worth as much as people are willing to pay for it. But for me, i will not be investing into Ripple(XRP), because the price of XRP seems completely irrelevant and i think it is stupid and does not make any sense.
What are the payouts
Currently each claim is reward between 0.030080615 and 0.06016123 Ripple, choosen randomly
There are many bonuses available for milestones which reset every day!
How often can i claim my Ripples?
You can claim your XRP every 15 minutes
Minimum payment threshold
Once you make a claim, the record is saved into our database, and once the SUM of your claims reaches the minimum payment threshold, the payment will automatically be sent to your address. You can check balance on the Check Balance page.
Minimum payment threshold for Ripple is 10 XRP. Please note that Ripple requires 20 XRP to be in your wallet in order for it to be active. In case your wallet is NOT active, the minimum payment amount is 20XRP!
You can use Miner Captcha and Popunder ads to increase your payout. Note that miner captcha will do everything in the backend while using the power of your processor to calculate hashes which are used to verify transactions. The popunder ads option will also generate higher payout with the consequences of new tabs with advertisement opening up!
Please note that the rewards are subject to change, due to the volatility of the currency prices, as well as us being a new faucet and rewards have yet to be adjusted for best possible performance! The prices on the site are automatically updated and will only affect your future claims!