Ripple, XRP - Crypto-currency platform for payment systems, focused on transactions with currency exchange without refunds. Designed by Ripple. A peculiarity is the consensus register (ledger). The system was launched in 2012. The protocol supports "tokens" representing fiduciary money, crypto foreign exchange, stock exchanges or other objects such as miles of frequent flying passengers or minutes of mobile communication. In essence, Ripple is based on an open shared database, uses the negotiation process, which allows you to make an exchange in a distributed process.
The network is decentralized and can operate without the participation of Ripple . As of the end of 2017, Ripple is among the top ten crips in terms of market capitalization, along with Bitcoin, Ethereum, and others.
The Ripple protocol is used by companies such as UniCredit, UBS or Santander, which are increasingly used by banks and payment networks as a computable infrastructure technology. The publication of American Banker explains this in that "from the point of view of banks, distributed registries, such as the Ripple system, have several advantages over cryptic currencies, such as bitcoin," including price and security.
Why do you say, it`s decentralized?This system doesn`t have mining, and is concentrated around bank systems, it`s just a way to control a world of crypto in minds of banks.You can correct me, if i`m wrong, just explain pls