Ripple's XRP platform offers instant, low-cost transactions through its unique consensus mechanism, enabling swift, energy-efficient transactions on its decentralized network. More
| Fully Diluted Valuation | $284.71B |
|---|---|
| 24H Trading Volume | $4.42B |
| 24H Low / High | $2.84 / $ 2.94 |
| Circulating Supply | 59.42 B |
| Total Supply | 99.99 B |
| Max Supply | 100.00 B |
| Categories | Pantera Capital Portfolio 9 more |
|---|---|
| Founder | David Schwartz 2 more |
| Website | ripple.com |
| Socials | 3 more |
| Explorer | Bithomp 3 more |
| Name | Pair | OG Score |
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Ripple is defined as a transaction protocol representing the cryptocurrency platform named XRP. Ripple initially introduced its XRP Ledger in 2012 as a distributed ledger and cryptocurrency platform.
Functioning as a distributed ledger network, Ripple requires participation from various parties to validate transactions, thereby facilitating global transaction facilitation and significantly lower transfer fees compared to Bitcoin. XRP transfers occur instantly without a confirmation period unlike other cryptocurrencies.
Initially established by Ripple Labs, the entirety of the initially issued 100 billion XRP tokens primarily belongs to Ripple Labs.
The XRP Ledger, a distributed payment network developed by Ripple, employs a consensus mechanism based on Cobalt. This mechanism, known as the Ripple Protocol Consensus Algorithm (RPCA), offers a method that consumes less energy to reach consensus on a decentralized network. Utilizing a Byzantine-Fault Tolerant (BFT) Governance framework and Cobalt protocol, it streamlines the block creation process and block confirmation while ensuring reduced energy consumption and faster transaction processes. Offering advantages such as low cost, speed (completing transactions in 3-5 seconds), scalability (1,500 transactions per second), carbon neutrality, and energy efficiency, the XRP Ledger encompasses the first decentralized exchange (DEX) with custom tokenization capabilities. XRP Ledger network is one of the ISO 20022 compliant blockchain platforms.
Operating as a currency network where transactions conclude within seconds, featuring low transaction fees, and serving as a digital money transfer service akin to hawala, the XRP Ledger focuses on creating real-world value managed by a global community comprising users, businesses, and software engineers.
The XRP Ledger's uniqueness lies in its rapid transaction completion (3-5 seconds), low fees, and scalability, facilitated by the Ripple Protocol Consensus Algorithm (RPCA), offering an energy-efficient and faster consensus mechanism.
XRP Ledger (XRPL) was initially established by Ripple Labs which was founded by Chris Larsen and Jed McCaleb. David Schwartz, Jed McCaleb and Arthur Britto are core contributors of XRP Ledger.
Ripple Labs primarily owns the entirety of the initially issued 100 billion XRP tokens. The main investors/backers of XRP are Andreessen Horowitz (a16z), Pantera Capital, Blockchain Capital, Arrington XRP Capital, GV Google Ventures, Digital Currency Group (DCG), Lightspeed Venture Partners, SBI Investment, Core Innovation Capital, Bossanova Investimentos, Accenture, Camp One Ventures. , IDG Capital, Santander, Tetragon Financial Group Limited, RRE Ventures, AME Cloud Ventures, CME Ventures, Standard Chartered Bank, CRCM Ventures, Hinge Capital, Route 66 Ventures, Seagate Technology, Thirdstream Partners, Avant Global, Vast Ventures, SCB 10X.
The XRP Ledger (XRPL) employs the Ripple Protocol Consensus Algorithm (RPCA), utilizing a Byzantine-Fault Tolerant (BFT) Governance framework and Cobalt protocol to achieve consensus, reducing energy consumption and enabling faster transactions.
You can buy XRP (XRP) on Binance, OKX, BitgetGate.ioBybit cryptocurrency exchanges.
