The most well-known cryptocurrency is Bitcoin. However, XRP is increasingly gaining popularity over the world. This year, it is remarkable the fact that they have really different behaviors.
On the one hand, since January 1, Bitcoin went up a 100%, while XRP just a 17,3%. Also, in the last great impulse Cryptos made (March 16 till the max on May the 16), BTC grew up a 108%, while XRP a 55%.
So, why are those instruments presenting such a different behavior nowadays? Lets analyze their characteristics in detail!
Both are cryptocurrencies, both have a maximum total limit of coins that will be created, and both are great figures in the world of cryptocurrencies.
However, these two coins were designed for different purposes. Bitcoin was developed as an alternative to ordinary currency, with the objective of being used as a payment method for goods and services, and for people to make payments directly to each other. On the other hand, XRP works as a source of liquidity for banks, corporations, and anyone wishing to make an international money transfer.
Satoshi Nakamoto's vision for bitcoin focused on allowing person-to-person transactions that do not require users to go to a third party. The objective was to eliminate banks and other financial institutions from the process, instead of sending funds through them. Thus, those who have BTC can make transfers directly with each other.
In the case of Ripple, instead of revoking control of financial institutions, it focuses on working together with them to execute more efficient international transfers.
Who is behind them?
- Bitcoin is a decentralized system and is not governed by any bank, government, or third party.
- An official company with set goals and investors called the Ripple Company developed XRP.
Tech that supports them.
- Bitcoin uses Blockchain and is a currency based on the use of mining.
- XRP uses an iterative consensus ledger and validating servers network along with XRP cryptocurrency tokens.
The Coin Supply
- The total bitcoin supply has a limit of 21 million coins.
- XRP has a maximum supply of 100 billion tokens, of which all have already been created. The supply of XRP will decrease in the future, since a small amount is destroyed in each transaction.
Who own them?
- Bitcoins are spread out all over the globe.
- 60 percent of XRP tokens are owned by Ripple.
Price
- Ripple’s price is very small in number when compared to Bitcoin’s price.
Transactions
- Bitcoin transaction confirmations take 10 minutes on average.
- XRP transaction confirmations take 5 seconds.
Applications
- Bitcoin is used in the capacity of money.
- Ripple’s goal is to use it for other currencies or commodities transfer such as oil or gold over the network.
On the one hand, since January 1, Bitcoin went up a 100%, while XRP just a 17,3%. Also, in the last great impulse Cryptos made (March 16 till the max on May the 16), BTC grew up a 108%, while XRP a 55%.
So, why are those instruments presenting such a different behavior nowadays? Lets analyze their characteristics in detail!
Both are cryptocurrencies, both have a maximum total limit of coins that will be created, and both are great figures in the world of cryptocurrencies.
However, these two coins were designed for different purposes. Bitcoin was developed as an alternative to ordinary currency, with the objective of being used as a payment method for goods and services, and for people to make payments directly to each other. On the other hand, XRP works as a source of liquidity for banks, corporations, and anyone wishing to make an international money transfer.
Satoshi Nakamoto's vision for bitcoin focused on allowing person-to-person transactions that do not require users to go to a third party. The objective was to eliminate banks and other financial institutions from the process, instead of sending funds through them. Thus, those who have BTC can make transfers directly with each other.
In the case of Ripple, instead of revoking control of financial institutions, it focuses on working together with them to execute more efficient international transfers.
Who is behind them?
- Bitcoin is a decentralized system and is not governed by any bank, government, or third party.
- An official company with set goals and investors called the Ripple Company developed XRP.
Tech that supports them.
- Bitcoin uses Blockchain and is a currency based on the use of mining.
- XRP uses an iterative consensus ledger and validating servers network along with XRP cryptocurrency tokens.
The Coin Supply
- The total bitcoin supply has a limit of 21 million coins.
- XRP has a maximum supply of 100 billion tokens, of which all have already been created. The supply of XRP will decrease in the future, since a small amount is destroyed in each transaction.
Who own them?
- Bitcoins are spread out all over the globe.
- 60 percent of XRP tokens are owned by Ripple.
Price
- Ripple’s price is very small in number when compared to Bitcoin’s price.
Transactions
- Bitcoin transaction confirmations take 10 minutes on average.
- XRP transaction confirmations take 5 seconds.
Applications
- Bitcoin is used in the capacity of money.
- Ripple’s goal is to use it for other currencies or commodities transfer such as oil or gold over the network.