XRP Crypto Exchange

Ripple was designed as a money transfer network to replace national payment systems like SWIFT. The first release of the Ripple network was held in 2012, and it was developed by Jed McCaleb, Arthur Britto, and David Schwartz. Ripple network is similar to a digital hawala service – it allows a money transfer to occur without actual money movement. The network doesn’t run either with a Proof-of-Work or a Proof-of-Stake system. However, it uses a consensus protocol to conduct transactions and validate account balances. XRP is a native cryptocurrency of the Ripple network. Its primary utility is paying fees for transactions within the network. The standard price to conduct the transaction is set to 0,00001 XRP, which means that transactions on the Ripple network are much cheaper than on the Bitcoin One or most other blockchain networks. XRP is a so-called “pre-mined” cryptocurrency – 100 billion tokens were created at the network launch. Ripple owns about 6% of this to help the currency grow. And around 48% are held in reserve for regular release in April 2022. Ripple announced that a collection of NFTs dedicated to the life of a former NBA player, Michael Jordan, is coming to XRP Ledger in 2022. The collection will be done with Rare Air Media and VSA Partners.