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Ripple becomes second most valuable crypto-coin

Ripple becomes second most valuable crypto-coin

Technology
A crypto-currency called Ripple has become the second most valuable virtual cash system.Over the weekend the value of the digital currency hit more than $ 100bn (£74bn) according to some market monitors.This valuation is higher than the other popular crypto-cash system - Ethereum.Each Ripple coin, called an XRP, is now worth about $ 2.34 - far higher than the half a US cent they were worth a year ago.Bitcoin still remains the most valuable crypto-currency. The value of the 16.8 million bitcoins in circulation is now worth a nominal $ 231bn. Each bitcoin has a value of about $ 13,580.Bank paymentRipple has sought to establish itself as a safe alternative to other crypto-currencies by emphasising its links to existing financial institutions.Ripple was set up to help banks speed up and modern...