Can Ripple Dethrone Bitcoin? #shorts
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How does Ripple stack up against Bitcoin? Well, the process for creating tokens is different for Bitcoin and Ripple. The production of new Bitcoins occurs through blockchain mining, while Ripple uses consensus mechanisms through a network of servers controlled by banks.
Bitcoin is a type of virtual currency that can be used to buy goods and services. Ripple, on the other hand, is designed to be used by banks and payment networks as a means of payment settlement, currency exchange, and payment systems.
Despite their diverse backgrounds, both Bitcoin and XRP are supported by worldwide communities of cryptocurrency fans. But unlike XRP, Bitcoin isn’t supported by any organization like Ripple and its team of lawyers.
People who genuinely believe in Bitcoin and the certainty of a significant return on investment are at the forefront of the battle to keep it relevant. In order to meet the demands of the financial services sector, Ripple was created as a network for money transfers. XRP.