Overview
XRP is a digital asset designed as a bridge for cross-border payments. Typical ledger settlement is a few seconds, and the per-transaction cost is very small.
Highlights
- There is no mining. A transaction is usually final in 3 to 5 seconds.
- Each transaction destroys a tiny amount of XRP, which raises the cost of spam.
- Banks and payment firms have connected to RippleNet for cross-border transfers. Coverage depends on the institution, not on a fixed global count.
Token model
All 100 billion XRP were created at genesis. A large part was placed in escrow and released on a schedule. Transaction fees are burned.
FAQ
What is XRP used for?
Its best-known use is as a bridge asset for cross-border payments, including on-demand liquidity, so firms do not have to pre-fund as many nostro accounts. It does not remove compliance checks.
Basics
SymbolXRP
Launch year2012
ConsensusXRP Ledger Consensus Protocol (RPCA)
Max supply100,000,000,000 XRP