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Ripple

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description Ripple Overview

Ripple is a financial-technology company that develops infrastructure for transferring value across borders, while XRP is the separate digital asset associated with the XRP Ledger. The XRP Ledger is a decentralized public blockchain designed for rapid settlement and low transaction costs, and it does not use proof-of-work mining. Ripple primarily serves financial institutions and payment providers rather than functioning as a consumer bank.

help Ripple FAQ

Is Ripple the same thing as XRP?

No. Ripple is a private financial-technology company, while XRP is the open-source digital asset native to the XRP Ledger, an independent public blockchain.

How fast do XRP Ledger transactions settle?

XRPL validators reach agreement on transaction order and outcome roughly every 3 to 5 seconds, according to Ripple's FAQ. A wallet or exchange can still add its own processing or review time after the ledger confirms a transaction.

What does XRP do inside the XRP Ledger?

XRP pays network fees, helps protect the ledger from spam, and can bridge currencies through the ledger's decentralized exchange. The XRPL also supports issued assets and trading offers, so XRP is not the only value representation on the network.

Is Ripple a publicly traded stock?

Ripple says it is a privately owned company, not a publicly traded stock. Buying XRP is therefore not the same as buying shares in Ripple, and XRP transactions are recorded on the XRP Ledger rather than on a company balance sheet.

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