What is Ripple? (XRP, IOUs, Gateway and Validators Explained) in 2022

laatste update: 05-2022

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The banking system today uses slow and outdated systems in order to transfer money (i.e. value) around the world.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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30 gedachten over “What is Ripple? (XRP, IOUs, Gateway and Validators Explained) in 2022”

  1. CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
    Stay safe 🙏🏻🙏🏻🙏🏻

  2. Good explanation, ques – given local banks have invested in technology and now payment transfer between two banks local banks is in real time. There is still a gap for offshore payments/ transfer. Do you reckon ripple is still useable? or Current technologies may join forces and address this issue?

  3. Bro, though I still have no idea what it is, you may be the first to give me the sense of "not knowing". Others give me "mess".

  4. So, if I understood things adequately, Ripple (XRP) is never going to see large rises in its value, such as we saw with BTC?
    XRP was about 15c, 4 years ago and is now about $1. Maybe it will be $1.50c in another 3 years time, which is still far better than bank interest.

  5. Im going back to watching what is bitcoin, this is a lot of info for a day. Subscribed btw. Will be back to this great info all around 👍

  6. XRP makes a lot of sense for how the old world works… but it doesn't really fit in with the world of cryptocurrencies because
    1) it's centralized (it's distributed, but it's not decentralized)
    2) it's not trustless or permissionless (which is the main reason why it's centralized)

  7. Your chart at 10:25 is misleading. Why putting 40B in "public hands" and include the 20B that you listed before to founders between brackets? That makes it look like there is more to "public hands" than founders while in reality there is the same amount and makes it all look a bit more dodgy…

  8. Hmmm. I am not really into XRP because it is centralized. I prefer DeFi like Unido. Enterprise Gateway bridges mass into education of Digital Asset Management.

  9. Grateful for this video, and the fat you made this 4 years ago, if possible if you can. make an updated video on Ripple and the lawsuit and its possible future. And if not thats ok!

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