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Ripple tipped to go past Bitcoin


Ripple tipped to go past Bitcoin

Ripple is making the headlines for some time now. Needless to say, there is still a big gap between the Bitcoin and Ripple. But, the latter might get there sooner or later. Bitcoin had a big run at the end of 2018 and has a market cap of $287 billion.

The overall size of crypto currency market is $769 billion in which Bitcoin holds 35.8%. Ripple follows it with market cap of $120 billion.

Ripple has garnered global attention with the Japanese businesses groups and credit card companies forming associations with the crypto group.

Bitcoin follows a decentralized approach which amplifies anyone can use it for whatever they feel like. Ripple, on the other hand, markets its cryptocurrency as an asset transfer solution for significant calculations.

Satoshi Nakamoto, the anonymous creator, is reportedly holding 980,000 of the total 21 million bitcoins that will ever exist. As per Sergio Lerner, the head of a Cryptocurrency firm, these untouched Bitcoins almost belong to the currency founder. Ripple group holds around 62 percent (worth 100 billion) of all the XRP in circulation.

The average fees for Bitcoin a user has risen to $27 as the users can pay miner to prioritize their transaction. Every single operation takes on average 70 minutes to clear. To pay the transaction fee, the Ripple network destroys the XRP rather than paying it to anyone in particular. It increases the value of the remaining XRP. Ripple transactions take a maximum of four seconds.