Ripple is a real time gross settlement system, by which you can exchange currency and make remittance. The original founder of Ripple is Ryan Fugger, who is inspired by a local exchange trading system and then he decided to create a financial system which is decentralized and could efficiently allow individuals and communities to transfer their money. After that, blockchain technology appeared and then Ripple is developed based on blochchain and had a high dependency of Bitcoin, which is considered inefficiently and costly now. In May 2011, Arthur Britto and David Schwartz decided to use a new consensus mechanism. Transactions were no more verified by miners during the mining process, instead network members verify the transaction during each rounds. This improvement had made a significant advancement. It remarkably reduced the time which a single user should wait until his transaction is confirmed and almost cost no charges. In September 2012, they founded OpenCoin Inc. which is called Ripple Labs now and created the native cryptocurrency for Ripple which is called XRP. Nowadays Ripple uses its own blockchain to record ledger and use XRP to maintain the security of its protocol. XRP has another important role, it acts as the bridge currency of Ripple and supports for any type of currency to exchange. XRP is not responsible for the incentive of participants. The incentive scheme of Ripple can be explained as following: Suppose there are two big international companies A and B, they are located in different lands and use different currencies. They cooperate with each other through a trusted third party (an international escorw). However, they both are worried about this trusted third party, who may collude with A or B, so the transaction records between A and B are no more reliable. Under this circumstance, Ripple can help them to maintain a public ledger so that both A and B can make an agreement without trusted third party. Then the payment network will be more reliable and stable. Another benefit is the transfer charges is relative low than using a trusted third party.2014 is the golden year for Ripple’s development. At this year, Ripple focused at banking area and the first bank to use Ripple was Fidor bank in Munich in 2014. In the same year’s September, the New Jersey-based Cross River Bank and Kansas-based CBW Bank also accept Ripple protocol and try to start for using it. By December Ripple Labs began working with global payments service Earthport, they tried to combine Ripple’s software with Earthport’s payment services system. At the end of year 2014, Ripple surpass Litecoin and became the second biggest cryptocurrency.On June 13, 2016, Ripple obtained a virtual currency license from the New York State Department of Financial Services, making it the fourth company with a BitLicense.Currently Ripple has developed application for both ios and andriod users. Also it has user-side application for Windows, Unix and Mac OS users. However, the server-side application does not support Windows operating system.