ALL ABOUT XRP - CRYPTOCURRENCY
What Is XRP?
XRP is a digital asset built for payments. It is the native
digital asset on the XRP 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.
How Is XRP Used?
Faster, less costly and more scalable than any other digital
asset, XRP and the XRP Ledger are used to power innovative technology across
the payments space.
Ripple is focused on building technology to help unleash new
utility for XRP and transform global payments. Third parties are also pursuing
other XRP-related use cases.
RippleNet
RippleNet customers can use XRP for sourcing liquidity in
cross-border transactions, instead of pre-funding—ensuring instant settlement,
lower exchange fees and more efficient use of working capital.
RippleX
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 Does the XRP Ledger Work?
The ledger is maintained by independent participants of a
global “XRP Community,” of which Ripple is an active member.
Independent validator nodes come to an agreement on the
order and validity of XRP transactions. This agreement, called consensus,
serves as final and irreversible settlement. The ledger reaches consensus on
all outstanding transactions every 3-5 seconds, at which point a new ledger is
issued. Anyone can be a validator, and active validators on the ledger today
include universities, exchanges and financial institutions. There are currently
36 validators, and Ripple runs 6 of them—16%.
Stable
XRP’s seven-year track record of stable technology and
governance makes it ready for institutional and enterprise use.
Eco-Friendly
The XRP Ledger settles XRP transactions instantly without
the energy costs associated with proof of work (or mining).
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