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RIPPLE - XRP

Technology: DLT - Distributed Ledger Technology


Network: Consensus Protocol


Company: Ripple


Crypto: XRP


Total Supply: 100 Billion


Founders: Chris Larsen and Jed McCaleb


Transaction Cost: 0.00001 XRP


Target Market: Banks and Institutions


About: Ripple is an open-source and peer-to-peer decentralized platform that enables the seamless transfer of money and aims to be the bridge currency that enables cross-border payments.


While other cryptocurrencies aim to replace existing currencies, XRP is designed to act as a bridge to other currencies. XRP is decentralized and uses Gateway as the medium that serves as the link in the trust chain between two parties that need to make a transaction. Individual distributed validator nodes take a poll to determine the majority vote in order to form a consensus. Anyone can set up a validator node and even though there is no incentive for it, running one helps with the speed of the transactions on the network which are usually confirmed in about 5 seconds.


This consensus approach to confirming transactions means that XRP uses far less energy than Bitcoin and transactions are confirmed in seconds with very little cost.


Click here for the latest AriasWave analysis for XRP.



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