Ripple (XRP)

About

Ripple (XRP) is a digital asset designed to facilitate fast and low-cost cross-border payments. It operates on the XRP Ledger, a distributed and open-source blockchain maintained by a network of peer-to-peer servers. XRP serves as a bridge currency, enabling quick and cost-effective transactions between different currencies. It is widely used by financial institutions due to its ability to process transactions in just 3-5 seconds, significantly faster than traditional banking systems. XRP's scalability allows it to handle up to 1,500 transactions per second, making it highly efficient for high-volume transactions. The Ripple network, RippleNet, connects banks and payment providers, facilitating real-time settlements and offering services like on-demand liquidity. XRP is not mined like other cryptocurrencies; instead, it was pre-mined with a total supply of 100 billion units. Ripple's unique consensus mechanism ensures fast and secure transactions without the need for energy-intensive mining processes.