Ripple Labs has continued to accrue attention grabbing headlines through substantial charitable acts and continuing discussion regarding the status of XRP as a security. Despite being labeled decentralized by Ripple Labs and most of the Ripple community, the network and token distribution suggest the network remains largely centralized.
The price of Ripple (XRP) has ranged widely over the past month, having declined 40% before recovering slightly. The market cap now stands at US$66.3 billion, with US$235.7 million in trading volume over the past 24 hours. The XRP ledger has processed US$808.6 million in transactions over the same period.
Having launched in 2012, Ripple is designed to provide a frictionless experience when sending money using the power of blockchain. While cryptocurrencies such as Bitcoin typically target peer to peer transactions, Ripple targets financial institutions.
Banks and payment providers can use the digital asset XRP to reduce their costs and access new markets. While Ripple announcements often focus on new partners, the company has recently made headlines with philanthropy.
In addition to the US$29 million donation to Donor’s Choose in May, Ripple recently donated US$4 million, denominated in Rwandan Francs, to an Ellen Degeneres’ wildlife charity. Ripple has also committed over $50 million to a University Blockchain Research Initiative which will help foster research and innovation at 17 higher learning institutions worldwide. Read more from bravenewcoin.com…
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