Jump to content
Sign in to follow this  
oscalv

Relation between XRP and Ripple´s banking services

Recommended Posts

Hello,

I was trying to get a better understanding of the relationship between XRP (the crypto currency) and the Ripple banking / financial services products. I tend to think that ripple the currency is based on DLT like bitcoin and that is open source but when I read about how banks are using it to settle transactions across I cannot imagine those transactions being transparent to the public or openly distributed. So are these separate things? Are the settlement channels across banks closed source i.e. a network set up among them where they control the nodes and trxs. are verified by or within a closed network? or how is this working? In which case, would not this verifications generate XRPs as well? Would a miner on the open source be verifying a transaction that is happening across banks just like any other participant?

I am not tech. so apologies upfront if the question sounds unclear.

Thanks.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...