Ripple

Ripple is one of the largest and oldest cryptocurrencies. Ripple started out as idea of a real-time global settlement system with much higher performance than Bitcoin - both in terms of latency (transaction confirmation speed) and throughput (number of transactions per second).

The goal was to create near-instant digital asset transfer technology, and as such, Ripple is specifically designed to prioritize performance over censorship resistance - a double-edged sword design choice that allowed it to become one of the most efficient cryptocurrencies at the expense of harsh criticism from cypherpunks and Bitcoin traditionalists who value cryptocurrency self-sovereignty over anything else.

Ripple does not require mining for transactions to occur. This means no energy expenditure is needed, unlike in proof-of-work decentralized networks. As a result, Ripple enables larger volumes of transactions to be processed at far cheaper costs.

From remittances and banking services, to membership subscription schemes and micropayments — Ripple has become increasingly popular for businesses looking to reduce costs associated with foreign exchange and traditional bank wire processing. This is also reinforced by relatively strong institutional support due largely to partnerships with financial giants like Santander and American Express.