What is Ripple? (XRP, IOUs, Gateway and Validators Explained)
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- Опубліковано 17 гру 2018
- Start trading Ripple here: bit.ly/3ujZdgT
The banking system today uses slow and outdated systems in order to transfer money (i.e. value) around the world. Ripple aims to create the Internet of value called RippleNet - a set of unified rules helping the financial sector use 21st century solutions for fast and scalable transfer of money.
Ripple has two main forms of transferring value - IOUs and XRP. IOUs are representation of debt and can be issued for any type of real world asset. XRP is RippleNet’s native currency which can be used to transfer money quickly around the world.
That’s Ripple in a nutshell. If you want a deeper explanation about Ripple and XRP keep on watching the video, here’s what I’ll cover:
0:42 - The issue with bank transfers
2:34 - Ripple in a nutshell
3:26 - How RippleNet works
4:42 .- RippleNet currencies (XRP, IOUs)
4:57 - IOUs
7:10 - XRP
11:53 - Is Ripple centrazlied?
14:30 - Conclusion
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I understood more from your first 3 minutes than my 1 hour reading 5 different articles! I love your format of explanation, thank you!
It's pretty simple. Invest in it. Unfortunately I actually started to pay attention in December 2017.
The fact is it's 1000
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Ripple explained in plain English. Thanks and keep them coming.
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Thank you so much for this feedback :) I really appreciate it.
excellent as always, thanks
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2021
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Phenomenal summary of the relevant issues. Explains the centralization issue nicely. Thank you!
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Thank you for this amazing explanation about XRP...
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Love the bloopers at the end!
🤑
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Great explanation. Thank you so much.
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Amazing as always! Thank you
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brilliant and clear explanation. thank you and well done
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Very clear and concise - so important
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I appreciate that!
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This was very helpful. Thanks guys
It’s so clear and I understand now. Thank you very much
Thanks a lot for your great and detailed explanation about XRP and the future global Banking transactions.
Your videos are excellent, thank you!
Fantastic video and explanation, thank you Nate
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I like all your videos and I do find them helpful. In regards to Ripple Crypto, I can see this Crypto system being more acceptable to the current banking system for now.
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Thanks for the explanations
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Thank you Rezu! Welcome aboard!
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Wow! It all makes sense now. Thank you.
Very impresive explanation. 😘
Very good explanation, thanks
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Very clear and a great video, keep up the good work.
Sincerely,
The Moto King 🤴
Wow! Thank you for this wholesome yet simple explanation. Highly appreciated 🙏🏾🙏🏾
You are very welcome
I watched your video about a year and a 1/2 ago and decided to do some investigating on XRP long story short I invested and I'm a happy camper today
Great explanation well organised
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Thanks, :) Indeed it takes us about 20 hours to put this sort of video together in total.
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Thank you to your explanations
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This project is fantastic.
We will soon see more central banks in countries adopting this technology. This currency has ultrafast transfer speed.
The value is very outdated in relation to bitcoin and ethereum. Few people are watching this.
Great explanation!!
Great, easy to understand exclamation the best so far that I’ve come across. Thank you.
You're very welcome!
Now I understand XRP much better Thank You
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what does it mean for a bank to keep an open tab using IOU without ever closing it in the facilitation of bank-to-bank transfers?
I wanted to know what Ripple was, then I saw this dudes face yet again. My worries of never understanding were gone instantly.
This is an amazing channel for a simpleton like me . Thanks yo broke it down to my level (caveman) and I’m not walking away from the video dizzy and more confused
Thanks for all the explanations could explain what is CRU
Sorry but I've never heard of CRU in relation to Ripple / XRP.
Best explainer, I like your video
Got yourself a new subscriber 👍
Very very well laid out! Thank you for presenting both sides of the story. Q: do validators make it a PoS (proof of stake) system? Or PoW?
Neither because there is no "staking" of coins nor is there any solving of a computational math problem (Pow) it is just a poll sent out for the validators to vote on. It's one of the main reasons Ripple is considered far less decentralized as there is no reward for voting so there is technically no incentive for "trusted validators" not to commit fraud
good explanations
You're the master of explanation, mate. Even though I'm not a natve English speaker, and my English is not that good, I could get all the thing you said.
wow, awesome video, thanks nate,
Very informative,thanks!
@pinned by Simeon Katz . you want my social insurance number and a sample of my DNA?