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What Is XRP (XRP)?

XRP is a peer-to-peer, distributed blockchain network for processing payments instantly. This network provides a seamless, friction less experience of transferring money from one place to another. Banks, payment providers and digital exchanges can all use this blockchain and work in unison to ensure instant processing of processing. The network is resilient to systemic attacks, very fast, extremely scalable and can interoperate within different networks. The network significantly reduces cost of operations as sending money over this network is virtually free, and opens up new markets thanks to the cross-border payment feature. It is possible to instantly send money from one bank to another using Ripple.

XRP is the coin used to run operations on the Ripple blockchain. This coin enables 1500 transactions per second 24 hours a day, seven days a week. This coin uses RPCA algorithm and is premined. It had a total coin supply of 100 billion, which are not mined but reduce gradually as they are destroyed in small amounts after every transaction as a deflationary measure. Ripple calls this the decreasing policy. XRP is supported by a range of wallets including Ledger Nano, Bitgo Wallet, Morph, CoolWallet, Gatehub, Coinspot, Atomic Swap Wallet and others. The coin is listed on major exchanges like Binance, Bitbank, Upbit, Bithumb, Huobi and Kraken among others.

Ripple is managed and maintained by a team of professionals from fields such as business management, finance, blockchain technology and others. Key among these individuals include Brad Garlinghouse, the CEO and a member of the Board of Directors, Ethan Beard acts as the SVP of Xpring, Asheesh Birla is the SVP of Product and many others.

Information

Type Coin
Algorithm RPCA
Premined Yes

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