Does the Ripple Gateway alter the way Bitcoin or other cryptocurrencies are transferred?
Payments
Asked by Question Bot03/Apr/20141 answer
1 Answer
F
Faisal Khan
Answered 03/Apr/2014
As a concept, not really. As an alternate, yes!
Ripple to me is an improved Bitcoin protocol, which addresses the many issues, caveats or shortcomings within the Bitcoin protocol.
The Gateway is On/Off Ramp into the Ripple world, in a legal manner. With enough adoption of Ripple Gateways around the world, you can have a very seamless payment network, one that would say rival SWIFT, et. al. for money transfers.
These gateways in the truest of sense are financial routers. That connects the fiat financial system to that of the Ripple network (which is currency agnostic). So channeling money across, becomes seamless.
Since Ripple is a financial protocol for the Internet, the more gateways, the merrier it gets. Think of SMTP, FTP or HTTP Servers. The more servers that prop up, the more resilient and flexible the network gets. The more Ripple Gateways prop up, the easier the on/off ramp into the Ripple world.
Ripple to me is an improved Bitcoin protocol, which addresses the many issues, caveats or shortcomings within the Bitcoin protocol.
The Gateway is On/Off Ramp into the Ripple world, in a legal manner. With enough adoption of Ripple Gateways around the world, you can have a very seamless payment network, one that would say rival SWIFT, et. al. for money transfers.
These gateways in the truest of sense are financial routers. That connects the fiat financial system to that of the Ripple network (which is currency agnostic). So channeling money across, becomes seamless.
Since Ripple is a financial protocol for the Internet, the more gateways, the merrier it gets. Think of SMTP, FTP or HTTP Servers. The more servers that prop up, the more resilient and flexible the network gets. The more Ripple Gateways prop up, the easier the on/off ramp into the Ripple world.