Ripple is a distributed payment protocol that also has a native currency, XRP. Unlike other crypto assets, the platform supports other tokens on its network that can represent traditional currencies or other assets. The system, therefore, seeks to enable secure and instant payments in the best possible way.
With this, Ripple is getting closer to companies and, especially, banks, by accepting other assets and facilitating the way in which transactions are made in these institutions. Thus, it moves away from the ideal of other digital currencies, which seek to eliminate the need for us to use banks to carry out transactions, to help financial institutions integrate the world of cryptoassets.
Ripple connects banks, payment providers, digital asset exchanges, and businesses through RippleNet to provide a frictionless experience for sending money globally.
Unlike Bitcoin and Ethereum, Ripple does not have a mining process. 100 billion XRP have already been created, with a large portion held in Ripple's treasury. There are currently just over 43 billion XRP in circulation.
