Ripa is a unique cryptocurrency exchange project that is based on ARK blockchain technology and aims to facilitate an easy and efficient way to open new exchanges and make trading secure for crypto traders. It has also leveraged an Open Source code of Peatio, that strengthens the security and makes the platform easy to use.
Users can be a member of Ripa Exchange at zero cost. However, they will have to pay for resources such as servers, network security operations, call center operators, etc. Moreover, users can make endless customizations on the source code as all the source base is released under the MIT License.
The Ripa Exchange will have its own blockchain referred to as Ripa Blockchain, that will operate on the DPOS protocol. The blockchain will be catering to the following functions :-
- Listing of new cryptocurrencies on Ripa Exchanges
- Promoting new projects
- Purchasing RipaEX gadgets from the RipaEx store
- Paying for transactions on authorized reseller platforms with RipaEx POS (Point of Sale)
- Sharing equal liquidity among the Ripa exchanges within the same network
For standard transactions, the platform charges a P 0.1 but this amount is subjected to change post the launch of the Ripa Blockchain. Currently, following is the fee structure associated with the various functions in Ripa platform:-
- Transaction – P1
- Vote – P 1
- Second Signature – P 1
- Multiple Signature – P 1 per signature along with P 1 per account signing
- Registering a delegate – P 5
Ripa Liquidity Service Providers (RLSP)
Through SmartBridge Technology, Ripa envisions to build a mechanism that enables the platform to offer equal liquidity to all the exchanges within the Ripa network. This will be executed by writing a single exchange orderbook within the Ripa Blockchain and by executing order matching between all exchanges on the network.
Delegated Proof of Stake Consensus System
Ripa Blockchain has incorporated a delegated Proof of Stake technology consensus system. This algorithm was primarily designed to counter the setbacks associated with the Proof of Work system, specifically the centralization of computing power and excessive wastage of energy.
Ripa Exchange Trading Console
The Ripa Exchange Trading console is a responsive trading UI developed to save the valuable time and money of the users by providing them with vast data, which is accessible on any device. This exchange UI specializes in designing visually appealing interfaces while ensuring optimum functioning of the application.
Ripa – A Hybrid-Decentralized Exchange
Currently, it is very a expensive and complicated affair to create and manage a cryptocurrency exchange due to the requirement of high investments, resources, liquidities, etc. Moreover, with a majority of centralized exchanges, investors and traders are not able to harness optimum benefits out of cryptocurrency trading.
Ripa has identified these aforementioned challenges and presented a hybrid blockchain based platform that enables easy and cost-effective entry into the cryptocurrency exchange landscape. Its decentralized approach further ensures investors to enjoy a secure and flexible trading experience that allows them to garner substantial profits out of their trades.
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