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tradeandholder

What is XRP, Ripple

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Ripple was released in 2012 as one iteration of RipplePay. It's a real-time gross settlement system (RTGS), currency exchange and remittance network created by the Ripple company. Ripple is based on a shared public database that makes use of a consensus process between those validating servers to ensure integrity. Those validating servers can belong to anyone, from individuals to institutions (banks). Ripple offers two main products, xCurrent and xRapid. The settlement token of xRapid is XRP. It uses totally different technology called HashTree comparing to Bitcoin's blockchain. 

XRP tokens were issued at the beginning with a total number of 100B units and are not mineable. The use of XRP is totally independent of the Ripple network in general. Banks don't actually need XRP to transfer FIAT money (dollars, euros...) which is what many small investors might be missing when they are buying the token.

 

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