Ripple (XRP)

Ripple

Official Website: https://www.ripple.com/

Key Facts

  • Perhaps the least popular of cryptocurrencies amongst the community, as it has been developed by banks and corporations.
  • Primarily serves to process IOUs and speed up payment transaction times between banks, irrespective of geographic location, with lower processing costs.
  • Ripple is regarded as ‘pre-mined’ as they were created and distributed by Ripple Labs.
  • Ripple is currently the third largest cryptocurrency by market capitalisation.
  • XRP is the native token of the Ripple network.
  • 100 billion XRP were created at Ripple’s inception, with no more allowed to be created under the protocol.
  • XRP is divisible to six decimal places, with the smallest unit called a drop.
  • One million drops equals one XRP.
  • XRP is designed to be a scarce product, with decreasing available supply.

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