Know The Difference Between Ripple & XRP

 It is often noticed that people get confused between two entities and consider them similar. Like, take the example of Ripple and XRP. 


People usually cannot figure out the difference between the two and understand them as the same. But it is not. 


If you are a crypto enthusiast, then you must know how to classify the difference between the two. 


However, it is okay to fall into confusion, as both share a similar name. But now you need to know how both are different from each other. 




Ripple


First of all, you need to understand that Ripple is a private software firm. It is behind the creation as well as the foundation behind the open-source protocol called Ripple Protocol that consists of RCL. 


Besides this, it also includes a set of solutions for the payment of products that are marketed to crypto trading platforms, banks, and institutions that are non-financial. 


RCL


RCL or call it Ripple Consensus Ledger makes the best use of distributed ledger technology to underpin the token transfer constituting government currency, digital currency, or other units of value. 


This protocol is open for all which means there is no restriction in its availability. There is no need to take initial consent from Ripple. 


It leads to the inclusion of protocols by banks and non-financial institutions to develop it in their operative structures. 


Hence this makes it apart from Ripple firm. Transactions are confirmed through consensus by the network participants. 


XRP


People often mistake RCL with XRP. This confusion needs to be erased. Where Ripple is the name of the company, XRP is the crypto token that is native to the fellow company that finds its use for money transfer between the currencies across networks. Explore the latest news on Ripple on Cryptoknowmics.

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