What is Ripple?

in #crypto2 months ago

Source. Crypto info.com

What is Ripple?

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Ripple (XRP) is a currency that exists on a digital payment platform called RippleNet, which itself exists on top of a distributed ledger database called XRP Ledger. RippleNet is run by a company called Ripple, while the XRP Ledger is open-source and is not based on blockchain technology, but rather a distributed ledger database.

The RippleNet platform is a real-time payment settlement system for instant monetary transactions worldwide. While XRP is the native cryptocurrency for the XRP Ledger, you can use any currency to transact on the platform.

Ripple (XRP) was created to be speedy, low cost and an easily scalable alternative to other digital assets and existing monetary payment platforms like SWIFT. The XRP Ledger processes transactions around every 3-5 seconds. Anyone can become a Ripple network validator, and the list currently includes universities and mainstream financial institutions.

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