What is Ripple? (XRP, IOUs, Gateway and Validators Explained)
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- เผยแพร่เมื่อ 17 ธ.ค. 2018
- Start trading Ripple here: bit.ly/3ujZdgT
The banking system today uses slow and outdated systems in order to transfer money (i.e. value) around the world. Ripple aims to create the Internet of value called RippleNet - a set of unified rules helping the financial sector use 21st century solutions for fast and scalable transfer of money.
Ripple has two main forms of transferring value - IOUs and XRP. IOUs are representation of debt and can be issued for any type of real world asset. XRP is RippleNet’s native currency which can be used to transfer money quickly around the world.
That’s Ripple in a nutshell. If you want a deeper explanation about Ripple and XRP keep on watching the video, here’s what I’ll cover:
0:42 - The issue with bank transfers
2:34 - Ripple in a nutshell
3:26 - How RippleNet works
4:42 .- RippleNet currencies (XRP, IOUs)
4:57 - IOUs
7:10 - XRP
11:53 - Is Ripple centrazlied?
14:30 - Conclusion
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I understood more from your first 3 minutes than my 1 hour reading 5 different articles! I love your format of explanation, thank you!
It's pretty simple. Invest in it. Unfortunately I actually started to pay attention in December 2017.
The fact is it's 1000
faster than Bitcoin. Didn't mention that did ya? And. Fraction of the cost
Bitcoin was the Ford model-t
Great invention
But now we have Ferrari and Lamborghinis
Your videos are some of the clearest and most informative ones out there. Thanks!
Thank you so much for this feedback :) I really appreciate it.
excellent as always, thanks
Ripple explained in plain English. Thanks and keep them coming.
After two years... I just want to say thank you for this absolutely brilliant and stunning presentation.... 👌👌👌☀️
I agree! Great video 🙏
When you say: ''Let me explain''. He will explain it very satisfying. Love you videos man!
yes yes yesss!
Liking the video before fully watching it is a common thing I do and never regret. You are the BOSS.
Informative and unbiased video. The way it should be. Great Job!
Thank you so much for including subtitles on your videos. It so much better for us non native English speakers.
When I have a crypto question or need a crypto technology translator.. this is 100% my first stop on TH-cam!! Another excellent video well done sir!
Phenomenal summary of the relevant issues. Explains the centralization issue nicely. Thank you!
I admire the way you explain such technical data in a way I can absorb the information.
Thank you this really broke it down and explained it very well then other videos I’ve seen
PERFECT DELIVERY = PAINLESS EDUCATION! Thanks a bunch Nate, keep going.
CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
Stay safe 🙏🏻🙏🏻🙏🏻
@@khangle1046 WTF... lol
2021
What a great video! Really crisp content, explained a lot in a short time
Your presentation of relevant information is impressive & just impeccable -- both as to your delivery & as to your content. Amazing. Thk u.
Your explanation is very clear and well organized.
I do find them are very helpful.
Thank you for this amazing explanation about XRP...
Nate, you are the best educator in the complex world of cryptocurrency. Great style, great voice and diction and great delivery of clearly expressed educative information. Thank you for doing this show.
Great work. Easy to comprehend what you say
Love the bloopers at the end!
🤑
This project is fantastic.
We will soon see more central banks in countries adopting this technology. This currency has ultrafast transfer speed.
The value is very outdated in relation to bitcoin and ethereum. Few people are watching this.
Your explanation was elegantly simple and helpful! Thank you!
Ding, ding, ding! I finally understand! Thank you for simplifying this. Keep up the good work and don't stop.
Although the video was two years ago, it is very informative and you are a very good teacher.
Wow. 2 years ago still so relevant and resourceful. Thank you mate👍🏽
Your presentation and content are awesome as usual.
Amazing as always! Thank you
Now only i start to see your video exactly 2.52 im your life time subcriber because i saw lot of videos all informations are explain by you in one single video you are such a gem person
Great explanation. Thank you so much.
That's really great Nate. Not much explanatory sources for the crypto world. You are doing a wonderful job, that too in plain English. Its a great help for persons like me, who are non-English speakers. Thanks.
I swear listening to this guy was like 10 articles I found combined. Emaculate performance easy to understand & great explanations, thank you!!! God bless all of you! Love y’all stay safe!!!
Thank you! This video was really informative!
This was a sublime explanation. Thank you
Your videos are amazing. So glad I happened to stumble upon your channel. 🤟💯🚀
brilliant and clear explanation. thank you and well done
This is the most clear explanation I have heard. Thank you. Love 99 Bitcoins.
Your videos are excellent, thank you!
This channel IS the best and has a bright future indeed
Nate you are a legend! Thanks for all of the simple yet detailed videos, I like The out takes at the end to 😂
I appreciate that!
XRP makes a lot of sense for how the old world works... but it doesn't really fit in with the world of cryptocurrencies because
1) it's centralized (it's distributed, but it's not decentralized)
2) it's not trustless or permissionless (which is the main reason why it's centralized)
That's exactly the point. This is why banks want to use it for a direct way to send money. Where do majority of people hold their money? You guessed it, the bank. It's solving a problem that 99% of these crypto currencies do not. When you really think about it most of crypto is useless and has no real world utility therefore it's worthless.
@@othxme8901 banks don't care for XRP. Some institutions are working with Ripple because they're interested in the protocol and payment network for their own CBDCs not for XRP. Also, remittance has no bearing on the price of XRP. In fact, XRP would work best as a stablecoin. Too bad many banks are going to come out with their own CBDCs, making XRP even more useless.
@@---GOD--- If these institutions are working with ripple then they will adopt XRP as a means to send money cross border. If there's a coin that has a network to function on already built, banks aren't going out of their way to create a new network.
Great video one of the best explanations I've seen.
Thank you so much!
Well explained thanks great info.
thankyou, im learning much here. Simple and straight
Very clear and concise - so important
It’s so clear and I understand now. Thank you very much
Excellent breakdown. Easy to understand. The first of its kind.
very helpful ive got now basic idea how it works thanks very much appreciate your efforts😊😊
I wanted to know what Ripple was, then I saw this dudes face yet again. My worries of never understanding were gone instantly.
Fantastic video and explanation, thank you Nate
Just subscribed. Just excellent content. Thanks
I watched your video about a year and a 1/2 ago and decided to do some investigating on XRP long story short I invested and I'm a happy camper today
I like all your videos and I do find them helpful. In regards to Ripple Crypto, I can see this Crypto system being more acceptable to the current banking system for now.
Man, I just want to say that your way of explaining is awesome. While I was listening to you, I was having feelings that I am sitting in a classroom and listening very important lecture and it is. 👍👏👍👌👏👌😎, please keep doing the very good work. Thanks
Very impresive explanation. 😘
Amazing explanation, this is definitely the best crypto currencies youtube channel!!!
This was very helpful. Thanks guys
This is the best of the best contents that I have ever watched cryptocurrency related videos. Very much thanks to teacher~!
I love your explaining.
Thanks a lot for your great and detailed explanation about XRP and the future global Banking transactions.
I am enjoying your videos. they are clear, well explain. I can see you have to spend some time to put content together. So thank you so much.
Thanks, :) Indeed it takes us about 20 hours to put this sort of video together in total.
Very clear and a great video, keep up the good work.
Sincerely,
The Moto King 🤴
Agree very good and to the point content. Thank you
Dude.... this video is so perfect thank you!
what does it mean for a bank to keep an open tab using IOU without ever closing it in the facilitation of bank-to-bank transfers?
Your videos are concise and short. I lover it
Thanks for the explanations
Your exploration was elegantly simply and helpful thank you
i like your video, very clear explanation thank you...
Wow! It all makes sense now. Thank you.
Very well done thank you!
This is one of the best TH-cam channels I've ever come across!
very helpful, thanks for your great work
The question of investing is exactly like you said, based on your belief of whether it will be adopted. The good thing is, you can get it for pretty cheap right now...so even if it doesn't go up in value or become adopted, you probably aren't losing much in the first place...unless you go all in on XRP only, which isnt the greatest idea in a currently speculative market. I own some XRP but I'm buying about 10 others as well.
I know this is an older post, but you are EXACTLY on point with your comment - it really is that simple...
If you dont mind me asking, what else are you buying and in what percentages of your capital? looking at buying XRP and XLM and wondering what else to go for. I didnt pull the trigger and buy bitcoin at $600 :-(
@@craigaudio3592 XRP, VET, ADA are my main 3. I get a little bit of a few others here and there but those are the 3 I focus on.
@@corylyonsmusic thanks. i will check those out :-)
@@craigaudio3592 yeah, there are many good potentials in the space, it just takes some time looking into them. I get a little BTC and Eth every week too for insurance lol
Im going back to watching what is bitcoin, this is a lot of info for a day. Subscribed btw. Will be back to this great info all around 👍
Very good explanation, thanks
Great explanation well organised
Great, easy to understand exclamation the best so far that I’ve come across. Thank you.
You're very welcome!
Thanks for all the explanations could explain what is CRU
Sorry but I've never heard of CRU in relation to Ripple / XRP.
Great information!!
Best videos to understand crytocurrencies, thanks!!!
If I could upvote multiple times, I would send 20. Fantastic video man.
Wow! Thank you for this wholesome yet simple explanation. Highly appreciated 🙏🏾🙏🏾
You are very welcome
Good job, learned a lot!
Thank you :)
Awesome explanation and because of that I had subscribed this channel just now at early morning. And now i am still not boring. So informative! Very well done and thank you. Anyhow I wonder if anyone comment here from Malaysia? Hehehe ❤💆🏻♂️😊
Thank you Rezu! Welcome aboard!
I hope this really works. I’ve invested an amount that I can afford to lose but if I win, it could be life changing.
Very very well laid out! Thank you for presenting both sides of the story. Q: do validators make it a PoS (proof of stake) system? Or PoW?
Neither because there is no "staking" of coins nor is there any solving of a computational math problem (Pow) it is just a poll sent out for the validators to vote on. It's one of the main reasons Ripple is considered far less decentralized as there is no reward for voting so there is technically no incentive for "trusted validators" not to commit fraud
Thank you for sharing this information
Got yourself a new subscriber 👍
Best video out there explaining this. Bravo my man!
good explanations
Thank you to your explanations
Yep a pain in the butt! I live in Mexico. I use Remitly. Specifically started to help transfer money cheap and fast- but it’s a very limited service.
Thanks Nate. Precise great layman term presentation. May I know when xrp started for sale and initial price. Tqqq
Very informative... Thank you
Great video!! Keep it up!
Great video as always! Also, thank you for the objective clarity. I see how XRP is certainly a good option in terms of replacing SWIFT but I have a lot of fundamental problems with how XRP functions, who it serves, and what its true “value” is. There are far too many people online who are convinced XRP is THE answer, will ultimately be THE cryptocurrency, and will moon to $5+.
But I think the information you provide here makes it more than clear that the problems and limitations of XRP will only take it so far. I see its large volume coupled with its stagnant-to-decreasing price as indicative of how little value the network truly has in the grand scheme of things.
Personally, I think Ripple Labs just didn’t have enough knowledge or foresight about incentives when they developed the XRP protocol. Even though Bitcoin and even Ethereum are slower, they still have far more value, far more volume, and have more of a fundamental utility that addresses the importance of incentives.
Very Good Explaination. 👍
Now I understand XRP much better Thank You
Excellent video sir.
This is an amazing channel for a simpleton like me . Thanks yo broke it down to my level (caveman) and I’m not walking away from the video dizzy and more confused