DISCOVER ABOUT "XRP"
XRP is a cryptocurrency created in 2012 by Ryan Fugger, Chris Larsen, and Jed McCaleb. XRP is a crypto asset that runs within the digital payment platform, RippleNet. The platform is a real-time gross settlement system (RTGS) that aims to enable concurrent and instantaneous transactions worldwide. However, the platform accepts other crypto assets as a form of payment, but XRP is its native currency.
The proposal of XRP, unlike other cryptocurrencies, is to accelerate financial transactions based on various accepted collateral as guarantees, among the accepted assets are several that range from other crypto assets to bank guarantees. This fact makes the crypto asset possess characteristics of seeking viability for financial transactions instantly without bureaucracy, in a decentralized manner and at a low cost.
The currency is native to Ripple, which is a distributed payment protocol, therefore, due to the ease of accepting various assets, it is one of the platforms that tends to get closer to traditional financial institutions, differentiating itself from its crypto asset peers. In summary, its creators stated the following during the launch of the platform: “Ripple connects banks, payment providers, digital asset exchanges, and businesses through RippleNet to provide a frictionless experience for sending money globally.”
