What is XRP?

XRP is a cryptocurrency that’s been around since 2012. And it certainly seems to have a lot going for it. It’s used by a number of major banks and payment companies including Standard Chartered, Deloitte and the Royal Bank of Canada.

But it’s not been without controversy. this crypto news It’s been in trouble with regulators who believe it to be a security, something its creators deny. However, it’s broadly maintained its popularity.

why XRP so popular?

Well, this crypto is best known for its use XRP Ripple on the Ripple network. It was originally launched to solve problems relating to payments, like slow settlement times and sending money overseas.

It’s become so synonymous with Ripple that XRP and Ripple are often used interchangeably.

However, they are separate. Ripple is a real-time settlement platform that aims to revolutionize our archaic legacy payment systems. this crypto is a digital asset built on the this crypto blockchain and operates independently of Ripple.

The Ripple network’s xRapid payment service simply uses this crypto  to facilitate transactions on the Ripple network.

xrp essentially acts as the bridge between different fiat currencies being transferred on the Ripple network. It also acts as a source of liquidity for the network. How this crypto works

how this crypto work?

Well, XRP differs from other popular cryptocurrencies in some key ways. First, it’s not mined like most other cryptocurrencies.

How many XRP are there?

A total of 100 billion this crypto tokens were pre-mined, of which 38 billion were made available to the public market. The remaining amount of this crypto tokens are held by Ripple labs and they’re periodically released.

The this crypto Ledger also uses a unique consensus algorithm which uses a network of validating servers, rather than proof of work or proof of stake. This enables faster transaction speeds.

An this crypto transaction confirmation takes an average of three to five seconds to complete, significantly faster than other cryptocurrencies.