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So should growth-oriented investors shift from Bitcoin and buy XRP (CRYPTO: XRP) on the chance that it might take off? XRP can't be staked (locked up to earn rewards) like Ethereum 's (CRYPTO: ETH) Ether and other proof of stake ( PoS ) cryptocurrencies. Bitcoin 's (CRYPTO: BTC) price has doubled during the past 12 months.
Those qualities make Bitcoin more similar to a precious metal than other cryptocurrencies which are validated (but not mined) with the more power-efficient proof of stake ( PoS ) consensus mechanism. Securities and ExchangeCommission (SEC) officially recognizes as a commodity instead of a security.
Ripple's blockchain is used to route real-time payments, remittance transfers, and currency exchange transactions. It promotes its blockchain-based approach as a cheaper, faster, and more secure alternative to the more widely used SWIFT (Society for Worldwide Interbank Financial Telecommunication) protocol for money transfers.
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