- Category: Cryptocurrency
- Coin Launched: June, 2012
- Resources: White Paper
- Official Website: XRP
- Reddit: XRP
Ripple is a privately-held fintech company that provides a global payment solution via its patented payment network called Ripple Network (also known as RippleNet).
RippleNet is a payment network that is built on top of Rippleâ€™s consensus ledger, called XRP Ledger (also known as XRPL). Ripple funded the development of the open-source XRP Ledger.
XRP History / Information / Buying / Staking
The Ripple network was founded in 2012. But the first work on the project dates back to 2004. Back then, the company was actually called OpenCoin. The company developed the Ripple Transaction Protocol (RTXP), based on concepts by Ryan Fugger, which allows banks to perform international transactions very quickly.
HOW XRP WORKS
Ripple operates on an open-source and peer-to-peer decentralized platform that allows for a seamless transfer of money in any form, whether it's fiat, or cryptocurrencies. Ripple is a global payments network and counts major banks and financial services amongst its customers. XRP is used in its products to facilitate quick conversion between different currencies
BENEFITS OF USING XRP
Some of the benefits of using XRP are:
WIDE SPREAD USAGE
Ripple has been adopted by more than 100 companies around the world and is helping them to move money around. This adoption is part of the original development aim that was to assist companies and banks, among other financial institutions, to transport money.
Buyers and sellers gain confidence in transactions based on the speed of completion.
XRP has experienced stable growth, delivering excellent value to investors. It is the stability that has attracted institutions and enterprises to use the coin over others.
DECENTRALIZED REMITTANCE SYSTEM
The technology allows distribution of capability and customization to fit the needs of different users. The set of validators is growing by the day, allowing access in different markets and platforms.
CAN YOU STAKE XRP
No you cant stake XRP however you can lend your XRP to a custodial lending provider in return for a set APY
COINS SIMILAR TO XRP
Direct competition to XRP which are considered similar coins are: