XRP is a digital asset built for payments. It is the native digital asset on the Ledger—an open-source, permissionless, and decentralized blockchain technology that can settle transactions in 3-5 seconds. XRP can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies quickly and efficiently.
To begin with, it’s important to understand the difference between XRP, Ripple, and RippleNet. is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called Ledger. While RippleNet is run by a company called Ripple, the Ledger is open-source and is not based on blockchain, but rather the previously mentioned distributed ledger database.
The RippleNet payment platform is a real-time gross settlement (RTGS) system that aims to enable instant monetary transactions globally. While XRP is the cryptocurrency native to the XRP Ledger, you can actually use any currency to transact on the platform.
While the idea behind the Ripple payment platform was first voiced in 2004 by Ryan Fugger, it wasn’t until Jed McCaleb and Chris Larson took over the project in 2012 that Ripple began to be built (at the time, it was also called OpenCoin).
XRP Cryptocurrency was created by Ripple to be a speedy, less costly and more scalable alternative to both other digital assets and existing monetary payment platforms like SWIFT.
RippleNet’s ledger is maintained by the global community, with Ripple the company as an active member. The Ledger processes transactions roughly every 3-5 seconds, or whenever independent validator nodes come to a consensus on both the order and validity of transactions — as opposed to proof-of-work mining like Bitcoin (BTC). Anyone can be a Ripple validator, and the list is currently made up of Ripple along with universities, financial institutions and others.
RippleX is Ripple’s open developer platform for money. Through RippleX projects, developers leverage XRP and its underlying technology in use cases from micropayments to e-commerce to exchanges and peer-to-peer services.
How Do You Buy XRP?
You can buy XRP Cryptocurrencyon any exchange that offers the digital currency. For the latest list of exchanges and trading pairs for this cryptocurrency, click on the market pairs tab. Remember to do your own research before choosing an exchange!
How Do You Store XRP?
You can either store your on an exchange, where the exchange is responsible for the safety of your asset, or store your in a cold or hot wallet.
How Is XRP Used?
Faster, less costly, and more scalable than any other digital asset, and the Ledger are used to power innovative technology across the payments space.
Ripple is focused on building technology to help unleash new utility and transform global payments. Third parties are also pursuing other -related use cases.
What is XRPL.org?
A Community-Driven Resource for All Things XRP and XRP Ledger
Whether you’re a developer building on the Ledger (XRPL) or just getting acquainted with blockchain and digital assets, org is your source for technical information, reference materials, tools, and all things.
A Digital Asset Built for Payments
XRP is a digital asset built for payments. It is the native digital asset on the Ledger—an open-source, permissionless, and decentralized blockchain technology that can settle transactions in 3-5 seconds. It is the best way to move money around the world; the fuel for our growing digital economy.
Benefits of XRP in Payments
Payments moving across the Ledger settle in 4 seconds. XRP is helping solve previously unsolvable problems for people and industries around the world.
XRP Cryptocurrency consistently handles 1,500 transactions per second, 24×7, and can scale to handle the same throughput as Visa.*
Run by a decentralized network of 150+ validators globally.
Seven-year track record of stable technology and governance makes it ready for institutional and enterprise use.
The Ledger settles XRP transactions instantly without the energy costs associated with proof of work (or mining).
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.