Ripple Labs

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Ripple Labs Inc. is an American technology company that is working on the Ripple payment protocol. Chris Larsen and Jed McCaleb founded Ripple Labs in 2012 in San Fransisco, California. The idea behind Ripple was to create a decentralized financial system in which individuals could create their own money. 


OpenCoin developed the ripple protocol in 2013 and later changed its name to Ripple. Ripple receives most of its funding through the sale of XRP tokens. XRP tokens are cryptocurrencies that traders and investors can buy and sell on cryptocurrency exchanges. Ripple itself holds the majority of XRP tokens. 

Apart from selling XRP tokens, Ripple raised funds through Series A, B, and C angel funding. The company has received over a billion dollars in funding in total. Ripple uses this money to further develop the Ripple protocol (RTXP) and the Ripple payment/exchange network. 

Ripple Payment Protocol

The Ripple payment protocol is a real-time gross settlement system, currency exchange, and remittance network. It is an open-source protocol that uses blockchain technology to enable the trading of currencies, commodities, and other units of value. 

Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized. 

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.


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