I have been reading about this in many articles and still don't understand the concept of how this works and don't know which is the correct subforum to address it in. Nevertheless, here it is and I quote below a part of the concept: As I understand, XRP does not use a hash, at least when I send or receive XRP I see none.
"While numerous people within the industry state that Bitcoin and Ripple are competitors, that may not be precisely the case. There are some differences, though: Bitcoin implements the proof-of-work system, which is a piece of data difficult (costly, time-consuming) to produce but easy for others to verify. It has to satisfy a set of requirements, too. In the case of Bitcoin, it implements the Hashcash proof of work system.
Ripple, meanwhile, uses the already explained distributed ledger, the “consensus” one, so there are notable differences in the modus operandi. Ripple is owned and administrated by OpenCoin and the Ripple Company, whereas Bitcoin is a decentralized system in which there are no central authorities.
Now, what would you say if we told you that Ripple’s traits and features could benefit Bitcoin users? Remember, Ripple is best known and has attained most of its international recognition, as a payment system or protocol.
Ripple can provide Bitcoin with more ways to connect with those using other forms of currency, as it preaches expedited transactions and increased stability. On top of that, Ripple is a distributed network and therefore does not depend on a single company to manage and secure the transaction database. As a result of that scenario, users don’t have to wait for block confirmations." .........................................
I do not understand the Hashcash or use of a hash. Yes I googled it. Need a better explanation from those who know how this works.
See full article here:
PS. If paragraphs were not created, then I have a technical issue with my laptop and apologize, as it was submitted with paragraphs.
edit to say paragraphs did insert properly. why this is off and on, I have no idea.