Ripple is a distributed ledger technology (DLT) that was created in 2012. It is unique in that it uses a consensus algorithm to validate transactions, rather than a traditional proof-of-work (PoW) system. This means that Ripple is not reliant on miners to verify transactions, and as such, it is more scalable and faster than other DLTs. Ripple is also one of the few DLTs that has been adopted by major financial institutions, such as banks and payment processors.
Ripple’s blockchain went live in 2012, but it was not until early 2018 that the company released its own native cryptocurrency, XRP. XRP is designed to be a bridge currency that can be used to facilitate cross-border payments. Ripple has also developed a payment platform, called xCurrent, that uses XRP to settle payments.
Ripple is currently working on a new version of its platform, called xRapid, which is designed to provide instant liquidity to financial institutions that need to settle payments in different currencies. xRapid is still in testing, but it is expected to go live in the second half of 2018.
Other related questions:
Q: What will XRP be worth by 2022?
A: This is impossible to predict, as the price of XRP will be influenced by a variety of factors including global economic conditions, innovation within the XRP ecosystem, and overall demand from buyers and sellers. Generally, cryptocurrency prices are incredibly volatile and tend to fluctuate rapidly. As such, predicting an exact price point for a specific year is often difficult, if not impossible.
Q: What will XRP cost in 2025?
A: This is impossible to predict, as the price of XRP will be influenced by a variety of factors including global economic conditions, innovation within the XRP ecosystem, and overall demand from buyers and sellers.
Q: What will XRP be worth in 2030?
A: This is impossible to predict, as the value of XRP will be influenced by a multitude of factors including global economic conditions, innovation within the cryptocurrency space, and overall demand from buyers and sellers.
Q: Does Ripple have a blockchain?
A: Ripple does not have a blockchain. Instead, it uses a distributed ledger system that is maintained by a network of independent servers.