![]() ![]() Each ledger version contains the current state of all balances, transactions, and metadata. It would take more than 80% of trusted validators colluding to validate any invalid transactions. The mechanism is designed to be robust against malicious attacks, network disruptions, and faulty behavior. The consensus protocol relies on a sufficient number of trusted validators agreeing on a set of transactions to ensure consensus. This validation approach involves each participant choosing a group of validators they trust, who then propose transactions to add to the next ledger version. The XRP Ledger operates using the XRP Ledger Consensus Protocol, a decentralized set of rules that enables the ledger to function without a central authority by utilizing trust-based validation. What is the consensus mechanism used by XRP? XRP Ledger (XRPL) developers and RippleX, a Ripple development lab, have proposed a new standard for the XRPL that would establish a cross-chain bridge, allowing for interconnectivity between various networks. For example, XRP can be used to buy, sell, and trade NFTs, and may also be distributed to users in the form of loans, micropayments, and rewards within gaming and other DeFi applications and protocols. The execution of smart contracts is supported by the XRP Ledger, enabling developers to create decentralized applications (DApps) and utilize XRP for various use cases. The XRP Ledger's decentralized exchange functionality allows users to convert XRP to other cryptocurrencies without relying on external crypto exchange platforms. Financial institutions on the RippleNet network can use XRP to bridge two currencies in only three seconds using the On-Demand Liquidity feature, which frees up capital and provides competitive rates. The XRP Ledger requires transaction fees to be paid in XRP, held as a minimum balance by each account. Unlike traditional payment systems with intermediaries, the XRP Ledger's fast and scalable blockchain infrastructure allows for almost instantaneous cross-border payments with low transaction fees. ![]() XRP is a versatile digital asset commonly used as a bridge currency to facilitate cross-border payments for financial institutions. Overall, Ripple's ultimate goal is to create an inclusive, streamlined, and sustainable financial system that benefits all, and increase global access and equity. Ripple is backed by globally recognized venture capital firms and strategic investors who are experienced in bold vision and future opportunity. Ripple's customer base spans across 50+ countries, with hundreds of businesses using its products in commercial use. Ripple is committed to supporting developers by providing tools for building a wide range of applications, solutions, and services on the XRP Ledger. The company's focus is on building transformative crypto solutions that connect an evolving world, while working collaboratively within existing financial systems to improve them. Ripple has over 800 employees in 15 offices around the world, and its transformative solutions are delivering impact in more than 50 countries. By utilizing blockchain technology, Ripple aims to enable global financial institutions, businesses, governments, and developers to move, manage, and tokenize value, unlocking greater economic opportunity for everyone. NewCoin was renamed OpenCoin and is now named Ripple. Chris Larsen joined them shortly after, and the trio launched the Business NewCoin in September 2012. They were inspired by Bitcoin and set out to create a better version that improved upon its limitations. In 2011, three engineers named David Schwartz, Jed McCaleb, and Arthur Brittom began developing the XRP Ledger (XRPL). is an American technology company based in San Francisco, California that was founded in 2012 with a mission to build breakthrough crypto solutions for a world without economic borders. ![]()
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