The Ripple versus Ethereum debate must have piqued your interest. Many investors are unsure of which to add to their portfolios for rational reasons. This article examines the pros and cons of both coins and directs you through the exchanging process on one online platform.
What Is Ethereum?
ETH is a virtual coin used as a means of payment on the Ethereum blockchain to create smart contracts and decentralized apps (dapps).
- Well-known Founder: The coin was founded by Vitalik Buterin, a Russian-Canadian who has founded several other open-source projects.
- Decentralized Platform: Ethereum is a decentralized platform that leaves the control of your account in your hands.
- Constant Innovation: Ethereum is constantly making improvements to its platform.
- Rising Transaction Costs: The increasing acceptance of ETH among crypto investors is causing an increase in transaction fees.
- Potential for Crypto Inflation: ETH may become excessive in circulation.
- Complicated Programming Language: Coding on Ethereum is only done in Solidity, a language reputed for some limitations.
Ripple is a digital resource for facilitating payments in three to five seconds. It is operated on an open-source, decentralized, and permissionless blockchain tech: the XRP Ledger.
- Affordability: XRP is relatively cheaper to acquire.
- Market Cap: XRP has a considerably large market cap.
- Robust Infrastructure: Ripple is a robust financial facilitator.
- Big Players’ Support: Ripple is supported by many big players in the crypto world.
- No More New Ripple: There are doubts over Ripple’s continuity due to its lawsuit with the US SEC.
- Ownership of Most Coins: Chris Larsen and Brad Garlinghouse, Chairman and CEO respectively, own large amounts of XRP.
- Anonymity: Ripple does not provide absolute anonymity to its users.
- Consensus Mechanism: ETH uses the Proof of Work (PoW) mechanism, while XRP is run on the Ripple Consensus Protocol.
- Market Performance: Ripple is a type of semi-permissioned blockchain tech. Ethereum, meanwhile, is a public blockchain.
- Focal Point: The primary goal of ETH is to widen the scope of blockchain tech in the crypto industry. That of XRP is to facilitate real-time payments across all borders without the impacts of exchange rates.
- Speed: XRP transactions are much faster than ETH transactions. However, this is expected to be resolved with the launch of Ethereum 2.0.
Ethereum is unarguably preferable to Ripple. Transactions on it may be slower, but it represents the core concept of cryptocurrencies: the most decentralized apps are based on Ethereum’s blockchain.
The future is bleak for XRP due to its battle with the US SEC. However, it’s already recuperated from the ultimate loss of more than half its value. Experts, meanwhile, predict a surge in the price of ETH.
You can easily and quickly convert XRP to ETH on Godex.io. You don’t even need to register. Just follow the instructions of the service, and the exchange should only take a few minutes.
Ethereum is a better coin than Ripple. It has better features, and experts expect it to be very good. But this is not financial advice; only you can decide. Should you need to exchange your coins, you can do it on Godex.io — a fast and secure exchange.