What is XRP?
XRP is a peer-to-peer payment digital currency running on a network called RippleNet. XRP was created as a medium for standard international transactions. same all over the world It is also a medium for transferring money between banks as well, that is, regardless of where it is transferred, the fee is the same. The waiting time is a few minutes. This is different from a normal transfer that takes several days. And partners can track the status of the transfer 24 hours a day.
This is because XRP is fast in transactions and has low fees. It can support processing up to 1,500 transactions simultaneously. In which each transaction takes only 4 seconds to process and can also freeze or freeze transactions that look unsafe because XRP is a private blockchain (Private Blockchain) is a closed network. The only person who can verify the transactions of the system is the designated agency or company. It is not open to the general public to verify transactions, therefore XRP is a Blockchain that may not be called decentralize. Because the current system is more biased towards Centralized.
XRP and Ripple Many people might be confused about XRP and Ripple. XRP was actually created in 2012 by Ripple Labs, Inc, also known as Ripple, with Jed McCaleb, Ryan Fugger, Chris Larsen, Arthur Britto and David Schwartz being among them. co-founder The company was originally founded as OpenCoin and later changed its name to Ripple Labs in 2015. Ripple is a payment gateway company.
How is it different from other coins?
XRP is different from other cryptocurrency platforms. because it can connect to the bank legally Examples of companies using Ripple’s platform include Santander (SANPRA), Bank of America (BAC), UBS (UBS), and financial companies in Japan and South Korea that have adopted Ripple’s technology, including banks in Thailand. Some of them, such as Thai Panich, Krungsri Ayudhya, have also joined Ripple, which has also been recognized by many of the world’s leading companies such as Google, SBI Group, StandardChartered and Seagate, among others.
The XRP coin was traded for the first time in late 2013, totaling $100 billion and cannot be re-created. The coin is split into 80:20 coins, 20% will be shared with the coin maker and 80% will be allocated to Ripple Labs, which will gradually be released to the market and Ripple Labs has split. 0.2% of all coins are given to those who wish to participate in the development of the project.
Ripple doesn’t just create XRP, there are also many interesting products such as xCurrent as a service that makes all currencies compatible with not just cryptocurrencies, xRapid is the solution. Liquidity Solutions created to solve Liquidity Solutions for banks and financial institutions, xVia is designed as a payment interface to facilitate other financial transactions. In other words, Ripple’s main customers are banks and corporations around the world.
XRP is currently priced at $0.342 USD, with 24-hour trading volume at $1,385,567,762 Ranking in Coingecko is currently No. 7 Market Cap at $16,528,727,063 Circulating Supply of 48,343,101,197 XRP and Max Supply of $100,000,000 XRP
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