5 Best Cryptocurrencies to Invest In For Beginners in 2022 According to Reddit

3. Ripple

Ripple is the most well-known cryptocurrency in terms of speed. The founders of the currency have specially designed the Ripple network as a way to move money around the world in a fast and secure way. They use the RTXP protocol for transfers. The Ripple network is one of the few cryptocurrencies geared towards banks and other large finance institutions. Ripple Labs, the creator of the Ripple coin, has relationships with hundreds of different banks already, who now do not have to go through costly intermediaries to transfer cross-border payments. Ripple offers faster and cheaper transfers to these institutions. 

Ripple uses the Ripple Net, a set of validators spread around the world which maintain a ledger of who owns what on the network. These validators make sure that every transaction on the Ripple network follows the RTXP protocols. For people outside the Ripple network, like large banks, gateways are used to access the system. Some of the products offered by the Ripple Net to banks and businesses include xRapid, xCurrent, and xVia.