what does bitcoin have to do with xrp

❶ What is the relationship between Bitcoin, Ethereum, Ripple, Wanrong Chain and blockchain

Wanrong Chain, rubbing hot spots.

❷ What is the relationship between bitcoin and gold

The relationship between bitcoin and gold
Bitcoin, a blockchain-based digital currency, often It is considered to be able to become a global safe-haven asset like gold. In this age of global turmoil, even gold has become unreliable and could be confiscated like India. Some people have begun to think that Bitcoin can replace gold, because in addition to the reserve capacity of gold, Bitcoin has some capabilities that gold does not have, such as low handling fees, fast transfer capabilities, and decentralization. As Bitcoin usage continues to grow in popularity and volatility continues to decrease, gold’s status has begun to be threatened.
Will bitcoin shake the status of gold?
Gold has a long history, almost as long as the history of human civilization, and has withstood countless tests in history. Bitcoin, on the other hand, is less than a decade old, and its value has risen sharply. There is no support behind Bitcoin. Of course, since the end of the gold standard, other currencies also have no support, but there is no support from the central bank behind Bitcoin. It’s hard to predict whether Bitcoin will exist in the next decade, a hundred years, or even a thousand years.

❸ What is xrp

Summary Hello, xrp generally refers to Ripple

❹ Bitcoin and Ripple What is the relationship between Stellar and Ethereum?

Bitcoin is not the only digital currency on the Internet, there are Ripple (Ripple), Stellar (Stellar), Litecoin (Litecoin), Ethereum ( Ethereum), and other digital currencies. Of course, the most popular is still Bitcoin. But many times, some developers, entrepreneurs, or companies will let us know that we need a better digital currency. A programmer named Jed McCaleb — the father of eMule — developed Ripple, which should be better than Bitcoin, and then he launched Stellar Coin, better than Ripple, and even more gratifying is that he is not fighting alone.

There is a trend now that the industry hopes to develop a technology that allows all these online digital currencies to flow with each other, which means that in the future you can transfer money at will in different online digital currency systems . This technology is known as the “Interledger Protocol (ILP)” and was initiated by Ripple. However, in recent months, after the company released the idea, they have also received support from many well-known companies in the industry, including Microsoft and the World Wide Web. Obviously, Ripple wants to set the technical standards for digital currencies on the Internet, and they want to develop a single global network that can unify not only all digital currencies, but all businesses and individuals who use them.

“We want to stand on a higher level and extract the difference of various digital currencies,” said Stephen Thomas, chief technology officer of Ripple, “We are trying to develop a payment globalization standard .”

The launch of this agreement hopes to allow more people to use online digital currency, and to expand the use of online digital currency, allowing us to transfer funds more efficiently. This is actually the goal of many existing projects. For example, the original design of Ripple and Stellar is to allow users to transfer money to these two digital currency accounts using any currency, and to allow these two digital currencies to correspond to each other. Convert to other currencies. You can send bitcoin, and the other party gets Litecoin. You can also send dollars, and the other party gets dogecoin. But for the business and developer communities, there are limits to their use of these ledgers, so there’s a bit of a hassle in it because you can’t transfer money from one payment network to another. Now, though, the “interledger protocol” hopes to change that.

In a way, this project has been a decade-long effort to develop a completely new network protocol, colloquially, the “Internet of Money”. If we go back to the early 1990s, we know that the famous Marc Andreessen founded the Netscape web browser, and now the project wants to play a similar role, they want to build a way to send money on the Internet standard way. In fact, the original Hypertext Transfer Protocol (http, which defined the web’s foundational standard) contained code for payments. But the code has never been used, and in recent years, many companies (such as bitcoin exchange Coinbase, and Stripe, which helps businesses accept various online digital currencies) have at least triedCreate a customary standard on digital currency. In the future, we hope that sending and receiving money online is as easy as sending a text message or email, but we are still a long way from this paradise, but at least we are heading in the right direction for now.

❺ what ripple is what Ripple is

Ripple is the world’s first open payment network, through this The payment network can transfer any currency, including USD, EUR, RMB, JPY or Bitcoin, which is simple and fast, the transaction confirmation is completed within a few seconds, the transaction fee is low, and there is no cross-bank and cross-country payment fees. Ripple is an open source peer-to-peer payment network that allows you to easily, cheaply and securely transfer your money to anyone on the Internet, no matter where in the world. Because Ripple is a p2p software, without any individual, company, or government control, anyone can create a ripple account for free.
The ripple payment network transmits credit, called Ripple Credits, also known as XRP, and some people call it Renpin. Ripple issued a total of 100 billion XRP. XRP is currently accurate to 6 decimal places. The smallest unit is called a drop. 1,000,000 drops are equal to 1 XRP, 1XRP = 1,000,000 dXRP.

❻ What is Ripple XRP

Ripple is the base currency of the Ripple network, it can circulate in the entire ripple network, the total amount is 100 billion, and Ripple is operated by Ripple Labs (formerly OpenCoin) as the number of transactions decreases.
Ripple is the only general currency in the ripple system. It is different from other currencies in the ripple system. Other currencies such as CNY and USD cannot be withdrawn across gateways. In other words, CNY issued by gateway A can only be withdrawn in A. Gateway withdrawal, if you want to withdraw at B gateway, you must convert it into CNY of B gateway through the pending order function of the ripple system before you can withdraw at B gateway. Ripple has no such restrictions at all, it is universal within the ripple system.
On January 1, 2018, the trading price of Ripple (ripple) soared by nearly 56% on Friday, hitting a record high, and its market value surpassed Ethereum to become the second largest cryptocurrency.
In 2017, CCTV announced the list of 350 fund pyramid schemes, and Ripple was on the list.

Warm reminder: 1. The above explanations are for reference only and do not make any suggestions.
2. Before investing, it is recommended that you first understand the risks of the project, and have a clear understanding of the project’s investors, investment institutions, on-chain activity and other information, rather than blindly investing or mistakenly investing in funds. Investment is risky, and you must be cautious when entering the market.

Response time: 2020-12-15, please refer to the official website of Ping An Bank for the latest business changes.
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❼ Ripple’s The relationship between ripple and Ripple (XRP)

In the early days of the development of the Ripple network, there were not many users, and it was only popular in a few isolated small circles, because the original design idea of ​​the Ripple protocol was based on acquaintances network of relationships and chains of trust. If a person wants to use the Ripple network for remittance or loan, the premise is that the payee and the payer must be friends in the network (establishing a trust relationship with each other), or have mutual friends (a chain of trust is formed through the transmission of friends), otherwise there is no way. A chain of trust is established between the user and other users, and transfers cannot be performed.
The situation changed with the establishment of OpenCoin.
Chris Larson and Jed Mike Caleb co-founded Opencoin in San Francisco in 2012, took over Ripple, formed Ripple Labs, and began to build this “future payment” in their eyes platform.
Public information shows that the new version of the Ripple network in 2013 introduced two measures to solve the problem of isolated small circles.
One is to launch Ripple, XRP, as the basic currency of the Ripple network, just like Bitcoin, it can circulate freely in the entire Ripple network without being limited to the circle of acquaintances. Ripple is a tool within the network, it has two functions, one is to prevent spam request attacks (due to the open source nature of the Ripple protocol, malicious attackers can create a large number of “spam accounts”, leading to network paralysis, in order to avoid this situation , Ripple Labs requires each Ripple account to have at least 20 Ripple coins, and every time a transaction is made, 1/100,000 Ripple coins will be destroyed. This fee is almost negligible for normal traders, but for Malicious attacks, creating massive fake accounts and transaction information, the destroyed Ripple coins will increase exponentially, and the cost will be huge); second, as a bridge currency, it will become an intermediary among various currency exchanges.
SecondIt is the introduction of the gateway system. The gateway is the gate of funds in and out of the Ripple network. It is similar to a currency deposit and exchange institution, allowing people to inject or withdraw legal currency and virtual currency into or out of the Ripple network, and can act as a bridge between payment parties. , that is, as a “mutual friend” between strangers, which is equivalent to a bank in the SWIFT protocol, which enables transfers other than Ripple to be carried out between strangers.
It should be noted that some people believe that the ripple system, as a brand-new global payment system, undoubtedly has great potential and is likely to subvert the future payment industry. It is optional, because the ripple system without Ripple can still operate normally. This is an obvious mistake. First of all, before 2013, ripple has been without Ripple, which has been proved to be unable to develop. It is precisely because there are With Ripple, the ripple system has entered a new period of rapid development since 2013; secondly, without such a common currency as Ripple, anyone can trust a fake gateway by establishing many fake accounts, Thus deceiving the system to form a large-scale fake gateway, which is extremely detrimental to the development of ripple; moreover, the existence of Ripple is equivalent to the lubricant and bridge of the ripple system, which provides great convenience for the liquidity of the ripple system!

❽ What is the relationship between Stellar and ripple

Stellar, a mysterious digital currency project helmed by Jed McCaleb recently Officially launched.
McCaleb was the original founder of the shuttered Japanese trading platform Mt. Gox, and he was also one of the co-founders of the digital currency payment network Ripple Labs.
According to the Wall Street Journal, the new platform is a decentralized gateway for the transmission of digital currencies and fiat currencies. Like Ripple and Bitcoin, Stellar will have its own digital currency, stellar.
The project was rumored back in February, when a mysterious website (secretbitcoinproject.com) Go live to recruit programmers, alpha testers and designers.
In a statement, the executive director of the Stellar Development Foundation, Joyce King, said that Stellar will serve as a bridge between fiat and digital currencies, which is key to digital currency adoption by mainstream users.
Kim added:
“It’s probably the best way to have the best of both worlds.”

Details of Stellar
According to the Wall Street Journal, Stellar will serve as both fiat and A transaction gateway between digital currencies, but we still have no way of knowing whether the infrastructure of the project is in place.
It is worth noting that the platform’s digital currency Stellar will be provided to users in the form of free distribution, and its supply will be 100 billion, of which 95% of the Stellar will be distributed for free.

Stellar is a diverse team with board members including former Square COO Keith Rabois, Stripe CEO Patrick Collison, Dogecoin co-founder Jackson Palmer and AngelList co-founder Naval Ravikant will serve as a consultant for the project.
The grudge with Ripple
When McCaleb first joined the company, Ripple Labs reserved 20 billion Ripple coins for the founder of the company, of which 9 billion were allocated to McCaleb.
In May of this year, McCaleb announced that he planned to sell his XRP holdings. After the news spread to the forum, it caused panic in the Ripple community and caused the XRP to depreciate by nearly 40% in a short period of time. . Despite his talk of selling these Ripple coins, oddly enough, he hasn’t cashed them out so far.

❾ What is bitcoin and fiat currency, and what is their relationship?

These are all virtual currencies, but this has been debunked, they are all scams, that is Raising money illegally in order to defraud other people.

❿ What is the relationship between Bitcoin and mining

Bitcoin is automatically generated by the system as a reward for miners to complete the issuance process. Miners play the role of currency issuers here, and the process of obtaining bitcoins is also called “mining”.
On September 24, 2021, the People’s Bank of China issued a notice to further prevent and deal with the risk of speculation in virtual currency transactions. The notice states that virtual currencies do not have the same legal status as fiat currencies.

Warm reminder: The above content is for reference only and does not make any suggestions; investment is risky, and you must be cautious when entering the market.
Response time: 2021-12-17, please refer to the official website of Ping An Bank for the latest business changes.


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