Ripple enables peer-to-peer transactions, which means that Ripple only allows transfers of fiat. It does not act as a transactional protocol for crypto-to-crypto, rather crypto-to-fiat. However, it is a payment protocol that allows instant payments with low fees. Ripple assists businesses in various ways. The technology enables cryptographically-signed issuances in which users can send and trade with one another in seconds on the Ripple network, comparing to the old process that takes a day or days even.
In terms of speed, XRP transaction processes within 4 seconds and is able to handle more than 1,500 transactions simultaneously. XRP uses Ripple Protocol Consensus Algorithm (RPCA) which is used to vote from Unique Node List (UNL) on their servers.
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