What Does the Ripple Protocol Mean (Ripple Lawsuit Update)
What does the Ripple protocol mean? The Ripple protocol is a blockchain-based p
What does the Ripple protocol mean? The Ripple protocol is a blockchain-based payment system primarily used to provide trading infrastructure for digital assets, such as XRP. In Bitcoin, users can transfer funds through Ripple. However, since Ripple does not use the Ethereum network, the project cannot support applications on the Bitcoin network.
One of the main features of the Ripple protocol is its ability to automatically execute transactions based on specific requirements. For example, when a new smart contract is deployed on the Ethereum mainnet, it needs to send XRP to another user. Additionally, users can choose to send it to others.
Ripple Lawsuit Update
According to CCN news, the Ripple lawsuit is progressing smoothly, and it has undergone preliminary hearings in the litigation case against Ripple Labs. Previously reported, on October 16, 2018, Ripple filed a dispute against the Securities and Exchange Commission (SEC) regarding securities fraud and registering as a Money Services Business (MSB). The case requires Grant Thornton LLP to disclose its financial condition, asset value, and XRP price information, but no specific details or data records were provided.
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