No, there is no Ripple mining software available on the web because Ripple (XRP) is an RTGS system which is now decentralized similar to other bitcoin but owned by a company known as Ripple Labs while bitcoin has no authority. Ripple and Bitcoin are similar to some extent but there is a difference in both the digital currency.
How does Ripple work?
Ripple works on an open-source and peer-to-peer decentralized platform which makes it similar to other cryptocurrencies such as Bitcoin and Ethereum. It was designed as a payment solution and to make transactions quicker, easier for banks. Ripple does not discriminate between fiat/crypto it acts as a bridge currency to other currency and it is easier for XRP to be exchanged with another currency.
The infrastructure used by Ripple is very ambitious. This digital asset is capable of setting a payment within 4 seconds and can handle more than 1500 transactions per second. Former company Ripple Labs not only offers a number of payment options but also holds the 60 Billion XRP tokens.
- The blockchain system used by Ripple is known as RippleNet which helps businesses and financial institutions to enable cross-border payments. The RippleNet includes a payment processing system for banks known as “xCurrent”,
- xRapid (while using XRP as a bridge from one fiat currency to another XRapid allows financial institutions to minimize liquidity cost).
- xVia (Used to send payments via RippleNet blockchain).
Is there any Ripple Mining software?
Ripple is not a type of cryptocurrency which uses a Proof-of-work algorithm like Bitcoin and Proof-of-Stake like Bitshares. So there is no ripple mining software available on the web. In my opinion, Ripple is better than decentralized cryptocurrencies such as Bitcoin which consumes a high amount of electricity.
Ripple has a circulation as 21 million bitcoin is to be mined whereas all 100 XRP tokens did not need to be mined. 39 billion XRP.tokens are in circulation and soon many held Ripple coins can be sold by Ripple Labs. Bitcoin mining is no more profitable and the same will be for the other PoW algorithm based cryptocurrencies.
Read more about ripple on Cointelegraph
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