user323: What is Ripple, and how does the system compare to Bitcoin?

user30732: Ripple is trying to replace SWIFT, the protocol for inter-bank transfers. To me it makes sense because, those systems are (according to my understanding) quite antiquated. So blockchain hype has provided the impetus for banks to consider trying something new such as Ripple. It was started by the guy who created MtGox.
Bitcoin is a mechanism for exchanging value online between any two (or more) persons who have accounts and something to trade. 

user196: This is answered in the official wiki:

Like Bitcoin:

ripple is a distributed peer-to-peer payment network
ripple transactions are irreversible, sent over the Internet, and counterfeit proof
ripple uses the same underlying cryptography as Bitcoin
ripple has multi-signature support
ripple has low to no transaction fees
ripple servers can be run by anyone

Unlike Bitcoin:

ripple can send any currency
ripple can automatically exchange currencies
ripple transactions are fully confirmed in seconds
ripple allows nicknames and gravatar icons for accounts
ripple's reference client is a Firefox and Chrome add on
ripple has no block chain download, clients are ready in seconds
ripple has no mining or direct monetary reward for running a ripple server
ripple has no currency risk as people can hold whatever fiat they want
ripple solves the double spending problem with consensus instead of proof-of-work



323: <p>What is <a href="https://ripple.com/">Ripple</a>, and how does the system compare to Bitcoin?</p>
 30732: <p>Ripple is trying to replace SWIFT, the protocol for inter-bank transfers. To me it makes sense because, those systems are (according to my understanding) quite antiquated. So blockchain hype has provided the impetus for banks to consider trying something new such as Ripple. It was started by the guy who created MtGox.</p>

<p>Bitcoin is a mechanism for exchanging value online between any two (or more) persons who have accounts and something to trade. </p>
 196: <p>This is answered in the <a href="https://ripple.com/wiki/Introduction_to_Ripple_for_Bitcoiners">official wiki</a>:</p>

<blockquote>
  <p>Like Bitcoin:</p>
  
  <ul>
  <li>ripple is a distributed peer-to-peer payment network</li>
  <li>ripple transactions are irreversible, sent over the Internet, and counterfeit proof</li>
  <li>ripple uses the same underlying cryptography as Bitcoin</li>
  <li>ripple has multi-signature support</li>
  <li>ripple has low to no transaction fees</li>
  <li>ripple servers can be run by anyone</li>
  </ul>
  
  <p>Unlike Bitcoin:</p>
  
  <ul>
  <li>ripple can send any currency</li>
  <li>ripple can automatically exchange currencies</li>
  <li>ripple transactions are fully confirmed in seconds</li>
  <li>ripple allows nicknames and gravatar icons for accounts</li>
  <li>ripple's reference client is a Firefox and Chrome add on</li>
  <li>ripple has no block chain download, clients are ready in seconds</li>
  <li>ripple has no mining or direct monetary reward for running a ripple server</li>
  <li>ripple has no currency risk as people can hold whatever fiat they want</li>
  <li>ripple solves the double spending problem with consensus instead of proof-of-work</li>
  </ul>
</blockquote>
