Symbol XRP
Established 01.05.2013
Website URL Link
Block explorer Link
Off. announcement​ ---
Founder Chris Larsen & Jed McCaleb
Algorithm ECDSA
Reviews 0 / 0

Ripple is both a digital currency (XRP) and a payment system. The goal of the ripple system, according to its website, is to enable people to break free of the “walled gardens” of financial institutions: credit cards, banks, PayPal and other that spoil the experience with fees and delays.

Ripple is run by mathematical algorithms and follows fixed rules that never change. This is why Ripple is secure and reliable. Since nobody controls XRP, it cannot be created out of thin air, falsified, or duplicated. XRP is free from third-parties and intermediaries.

XRP plays an important security role within the Ripple network. Every Ripple transaction burns a little bit of XRP as a transaction fee. But this fee is negligible since it amounts to approximately a couple of cents.

Another security measure is the XRP reserve system. The XRP reserve is the minimum amount of XRP needed for actions that require network resources. The Account Reserve is the minimum amount of XRP needed to activate a Ripple account. These measures protect the system from overloading.


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