Category: XRP

XRP is a digital cryptocurrency and the native token of the Ripple network, a payment protocol designed to facilitate fast and low-cost international money transfers. Created by Ripple Labs, XRP aims to serve as a bridge currency in cross-border transactions, enabling users to transfer value across different fiat currencies more efficiently than traditional banking methods. Unlike many cryptocurrencies, XRP does not rely on mining; instead, a finite supply of 100 billion tokens was created at its inception, with a portion released into circulation for use in transactions and liquidity provision. XRP’s consensus algorithm allows for quick transaction confirmations and scalability, which are key features for potential use in various financial applications and services.