What is the difference between ripple blockchain and bitcoin exchange ? I was reading this blog the other day but wanted to understand in simple language.
XRP runs on an internal blockchain. There are no public blocks/ transactions, but rather everything is done P2P.
They do however track alot more client/user information.
They do not use PoW, neither do i think that you can call the system that they use PoS.(As there is no direct reward eg staking, all transaction fees are BURNED.).
There's no hashpower involved in confirming ripple transactions, every simple node can do it, which means almost every transaction is instant.
Which means there's also no block reward. Every XRP has been generated by Ripple Labs, 100 Million is the maximum amount that can be generated, and there's a dev fund of ~20 million.