Why Banks Like Ripple? | Blockchain Central

The video explores Ripple, a backend infrastructure for banks, highlighting its unique features compared to other cryptocurrencies. Ripple collaborates with banks to improve transaction speed and security, using a distributed payment protocol. It addresses issues in traditional banking, such as counterparty risk and slow transactions, by using IOUs and gateways. Ripple's network is scalable, secure, and can handle up to 50,000 transactions per second. The XRP token is used to prevent spam and ensure liquidity. Overall, Ripple aims to enhance the traditional banking system's efficiency.

What is the role of the SRP token in the Ripple network?

What measures does Ripple take to ensure the security and efficiency of transactions?

Describe the process of how a transaction is conducted in the Ripple network.