tl; dr Ripple (XRP) is a new Bitcoin currency as decentralized that does not require a blockchain or mining. The Ripple network also supports sending and negotiation between a currency for genuine decentralized CTB exchanges. Ripple and Bitcoin can work together to expand the reach of everyone. We are the first to accept VPN Ripple.
As Bitcoin is approaching the $ 30 mark for the second time, we are proud to announce that we are the first VPN to accept a new currency marks, Ripple, the first cryptocurrency who really a blow to rival Bitcoin. Up to this point, all other decentralized digital currency that tried to compete were essentially cheap knockoffs of Bitcoin. Ripple is the first real innovation in decentralized cryptocurrencies from Satoshi Nakamoto Bitcoin released.
We would like to start with a simple list of advantages and disadvantages of Ripple over Bitcoin. Ripple has not blockchain, no mining and no strict limit on the number of transactions per second. Therefore, its transactions can be fully confirmed in seconds rather than hours. As there is no mining, no attack by 51%, allowing Bitcoin someone who invests enough money to spend either double or closed throughout the network . It also makes a Ripple cryptocurrency "green" as any "unnecessary" calculation must go in the confirmation of transactions.
Ripple major drawback to Bitcoin is that it begins with 100% of the credits Ripple (XRP or ripples) being completely controlled by their author, company, OpenCoin Inc. (founded by Jed McCaleb of MtGox and eDonkey fame ). However, bitcoins started does not exist at all, but it came into existence through mining, a process open to anyone who was so inclined to participate. OpenCoin will be in a few years to try to distribute 80% of all XRP as fairly as possible. While most of bitcoins were extracted with a small amount of individuals early (for a price much cheaper than today), wants to distribute OpenCoin ripples in a more even fashion between a larger number of people. While some say Ripple is just because of this, while others say it is less just because one organization manages the process rather than a free market mechanism. Other than the distribution mechanism of XRP is the same as the BTC, there is a fixed supply currency applied by all peers, and once you have them, they are yours. There is no counterparty risk and they are yours until you choose to send them to someone else. Another obvious disadvantage of Ripple is that it is much alpha as Bitcoin. While Bitcoin is still very alpha and technology, he resisted quite well so far. It will be years before Ripple can truly claim to be one of invulnerable payment processing network.
But none of these questions, Bitcoin and Ripple were made for each other. Ripple how Bitcoin will scale, both in technological sense, as well as in adoption. Bitcoin has a strict limit on the number and size of transactions it can process per second. Although there is much debate in the Bitcoin community about lifting that limit, to be equivalent to creating a new Bitcoin network and migrate everyone on it. Not an easy task to say the least. two greatest achievements Ripple solve the problem of double expense without blockchain and invent a decentralized way to send and exchange currency non Ripple on its network. This allows two things that will really allow Bitcoin to develop: 1) Most of Bitcoin transactions can be made through the Ripple network to be set to blockchain when absolutely necessary. 2) exchange of True decentralized Bitcoin will now be possible via trading on the Ripple network.
Easy to understand is one of the things Ripple is not, but we will try to give an example of how you might pay a merchant via the BTC Ripple network. The first thing to understand is that the Ripple network will be many bridges that hold the real currency that is traded on Ripple. Anyone can start their own gateway and hold the currencies of other. So let's say there are two gateways, gateway A and gateway B. You trust your gateway A with BTC and the merchant you want to pay the gateway trusts B with their BTC. This means that there are actually two types of BTC on the Ripple network: BTC / A and BTC / B. Even though they both represent CTB are not equivalent. Since the merchant does not trust gateway A, he can not do anything with CTB / A. This is where the exchange comes in. There are market makers on the Ripple network that will convert to and from a currency pair. So let's assume someone has an open trading 1 BTC / A to 1 BTC / B. When you try to send 1 BTC to the merchant, Ripple will you BTC / A, he wants BTC / B, and trade between them exist. All at once, he will deduct the BTC in your account, execute the order, conversion of BTC / A in BTC / B, and credit the merchant's account. Now the dealer can either stick with BTC in the Ripple network or send it to its gateway (gateway B) and remove the "real" BTC them on blockchain Bitcoin.
The impressive thing about the above process is that it works for any currency, not only BTC. You can do the same with dollars, thereby making transactions effectively, you USD in private outside the traditional banking system. As mentioned above you can also convert between USD and any other currency of your choice in a fully decentralized way. This opens a world of possibilities.
We, access to private Internet are delighted to be the first VPN to accept this game changing new currency. If you want to try and get free undulations there are two ways. If you are a member of the head bitcointalk.org there that OpenCoin is giving XRP free to all members. If you are not a member of bitcointalk, we were granted a limited number of XRP for distribution. Send a tweet to @buyvpnservice with a link to this post and Ripple your address and we will send you a (first come, first served, not bitcointalk members only) (we're all out!). And of course, subscribe to our VPN with undulations or any other currency please go buy VPN.
For more technical details about Ripple check https://ripple.com/wiki or #ripple on freenode.
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