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BitCoin Vs Ripple

BitCoin Vs Ripple side-by-side comparison

Ripple is one of the top 3 cryptocurrencies after Bitcoin and Ethereum. We already visited the side-by-side differences of Bitcoin Vs Ethereum. This post specifically discusses the side-by-side comparison of Bitcoin Vs Ripple.


Sr. No.
BitCoin
Ripple
Contributor
1
Generally referred as BTC
Generally referred as XRP
                       
2
Released in 2009
Released in 2012
3
BTC transfer to recipient account via a ledger updates
Settlement of IOUs via a ledger update
4
Bitcoin BTC itself is a cryptocurrency and needs exchange to trade bitcoin.
On Ripple network, Ripple XRP can be exchanged in any currency viz. Bitcoin, crude oil, gold etc. Now XRP are available on most of the crypto exchanges as well.
5
Nearly $80B market capital
Nearly $10B market capital
6
21 Million max BTCs available
100 Billion max XRPs available
7
SHA 256 hashing algorithm
SHA 512 hashing algorithm
8
Takes around 10 minutes for a single transaction
Takes < 4 seconds for a transaction.
1000 transactions per second on RippleNet
9
BTC a truly decentralized system
XRP is controlled by company called Ripple (Labs)
10
Primary use-case as an alternative to traditional money
XRP use-case is to digitize financial transactions among financial institutions or banks
11
Mining of bitcoin is a crucial part of this cryptocurrency. Transaction fees are paid to miners.
XRP tokens as transaction fees are burned. All XRPs are pre-mined.
12
Disclosure: I owned few Ripple XRPs at the time of writing this article.

Are there any distinct differences between BitCoin Vs Ripple? Notify everyone in comments below and will be updated with contributors name in above table.



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Mandar Pise Opinions expressed by techsutram contributors are their own. More details

Mandar is a seasoned software professional & Fintech, Cloud, IoT, and Blockchain enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about Fintech, Cloud, IoT, AI and Blockchain, and the effects they will have economically and socially in the future.

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