What coin is XRP

XRP is Ripple's native cryptocurrency, a cryptocurrency payment system created by Ripple Labs Inc. By XRP being a “digital asset created for global payments,” it means Ripple plans to compete with remittances that are often carried out by banking systems. XRP will allow users to send money at a very low cost, attracting the attention of ledgers.

Launched in 2021, XRP Ledger (XRPL) is an open source, unauthorized, and decentralized technology. XRP Ledger's benefits include low cost ($0.0002 per transaction), speed (settle transactions in 3-5 seconds), scalability (1,500 transactions per second), and inherently green features (carbon neutral and energy saving). The XRP Ledger also features the first decentralized exchange (DEX) and custom token capabilities built into the protocol. Since 2012, XRP Ledger has operated reliably, closing 70 million segregated accounts.

Blockchain nativo:

Ripple runs on the XRP Ledger, a decentralized blockchain-like system. It differs from traditional blockchains in terms of its consensus mechanism and how transactions are handled in its system.

Protokola Konsensus:

XRP Ledger uses a unique algorithm called the Ripple Protocol Consensus Algorithm (RPCA). Unlike PoW or PoS, RPCA relies on nodes to validate order transactions without going through coin mining.

Trilemma (Security, Speed, Scalability):

Seguridad: The XRP Ledger aims to prevent redundant spending and guarantee the accuracy of transactions

snelheid: Transactions with XRP are very fast, with successful trades being completed within 3-5 seconds. It is one of the fastest transactional cryptos

Scalabilità: XRP can support more than 1,500 transactions per second

Founder/Date Founded:

The XRP and XRP Ledger were created by Chris Larsen, Jed McCaleb and Arthur Britto at Ripple Labs, co-founded by Chris Larsen, who started developing and promoting XRP in 2012.

Objective/Use Case:

Ripple is designed as a digital currency that is used as an intermediary to connect with major financial institutions to facilitate instant cross-border payments, without the need to go through traditional banking systems. It aims for scalable, secure and efficient exchange transactions.

Total supply/Limit or Unlimited:

XRP is in total $1 trillion, unlike other coins that cannot be mined. All XRP tokens are pre-mined before being released to the public, with Ripple Labs holding a significant portion of the token and periodically releasing it to the market.

Supply Deflation:

Each transaction on the XRP Ledger causes a certain amount of XRP to be “burned” or destroyed through a portion of the transaction fee. This mechanism helps prevent spam and reduces the volume of XRP overall, and helps control value inflation.

This overview offers a beginner-friendly view of the core features of XRP. Since the nature of the crypto world is constantly evolving, it is essential to always keep abreast of current developments and innovations.

Source:
Ripple Dokumentation
ripple.com
Ripple Whitepaper

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