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XRP (XRP)

A Bridge Currency To Move Between Various Fiat Currencies.

Asset Summary

  • Blockchain: XRP Ledger
  • Consensus algorithm: XRP Ledger Consensus Protocol
  • Genesis: 2013-01-01 03:21:10 UTC
  • Maximum supply: 100 billion
  • Decimal: 6
  • Explorer: livenet.xrpl.org
  • Website: xrpl.org
  • Whitepaper: whitepaper.pdf

Project Summary

  • The XRP Ledger (XRPL) is an open-sourced distributed ledger powered by a network of peer-to-peer servers.
  • XRP is the digital asset native to XRPL. It is designed to function as a bridge currency, with the goal to "power innovative technology across the payments space" and enable "seamless, real-time, final, and cost-effective" global payments.
  • The XRPL also supports IOUs (obligation-like assets), which can represent a large variety of assets (e.g. fiat currencies, gold, airline miles, credit card points, and other cryptocurrencies).
  • The XRPL offers a decentralized exchange, allowing for trading of IOUs and XRP. XRPL also offers some smart contract functionality and supports the network-agnostic Interledger Protocol.
  • The supply of XRP is capped at a total of 100 billion XRP, while the available supply of XRP is designed to decrease over time, as the accrued amounts of transaction fees are “destroyed”.
  • XRPL was initially released in 2012 and is maintained by community participants, prominently amongst them the company Ripple, which holds a large amount of XRP that are largely locked up and purpose-bound.
  • Read more at Binance Research.

Market Summary

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