The followers are always compared to the pioneers. If you talk about the business model of Apple, the first company that you would compare Apple to is Microsoft and nothing else. The situation is not different when it comes to the cryptocurrency world. Naturally, every new technology is evaluated with what it brings to the table other than Bitcoin does. Ripple is also one of these altcoins which offer a wide range of services. If you have second thoughts about which one is a better alternative, you can find some important criteria below.
The two Blockchain technologies differ in terms of definition. Launched in 2009, Bitcoin is designed as a decentralized financial tool allowing people to send and receive money on a peer-to-peer basis. However, Bitcoin definition is much more than a basic payment system and it includes lots of other services. On the other hand, Ripple definition is more simple: a payment system that could be used by banks to transfer funds both domestically and internationally. Ripple definition identifies what Ripple stands for very well and Ripple is specifically focusing on payment-related technologies.
- Technical Features
Maybe the most important elements for Blockchain technologies are transaction speed and fees. A transaction takes an average time of 10 minutes while using Bitcoin. The amount is just a few seconds when it comes to Ripple and that is a big plus for the cryptocurrency. Bitcoin can process a maximum of 7 transactions per second. Can you guess the number for Ripple? 1,500. With the claim of the next payment base, Ripple has perfected their services through high speed and scalability.
Even though Ripple offers something better than Bitcoin in terms of transaction speed and amount, the transaction fees are very low in Ripple. While the transaction fees range from $0.50 to $3 for Bitcoin, they are less than $0.01 for Ripple. It is possible to say that Ripple looks more advantageous than Bitcoin in many terms despite the fact that Bitcoin is the most popular cryptocurrency worldwide.Share this article