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Ripple, competing/complementary cryptocurrency to bitcoin?


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Ripple isn't a competing cryptocurrency. It's a payment/exchange system that can be used with any fiat currency or with Bitcoin. Its most important use may end up being to provide an easy way to exchange between fiat and Bitcoin.

Ripple has an internal cryptocurrency called XRP which is used to pay the fees for payment processing. Because the designers of Ripple reserved the initial stock of XRP credits for themselves, it has no chance of being taken seriously as a competing currency to Bitcoin.

Which is fine! I think Bitcoin is a great cryptocurrency, and I think Ripple has the potential to be a great payment/exchange system.

Of interest might be the following page on Ripple's site:
Introduction to Ripple for Bitcoiners

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