$XRP Last month it exploded threefold, and its market value directly surpassed Sol. So, do you know the background of XRP?
XRP is a digital currency developed by Ripple Labs, designed to address the efficiency issues of cross-border payments and remittances in the traditional financial system. Ripple Labs was established in 2012, with its core goal being to enable fast, low-cost global payments through blockchain technology.
XRP is not generated through mining but is created through a pre-issued method, with a maximum supply of 100 billion XRP. The Ripple network uses XRP as a 'bridge currency' to facilitate fast exchanges and settlements between different currencies.
Unlike Bitcoin and Ethereum, XRP's consensus mechanism is not based on Proof of Work (PoW) or Proof of Stake (PoS), but instead achieves transaction confirmation through a mechanism called the Ripple Protocol Consensus Algorithm (RPCA). This allows for faster transaction speeds and lower fees on the Ripple network.
Although XRP has been widely used among financial institutions, it also faces some regulatory challenges, particularly the investigation by the U.S. Securities and Exchange Commission (SEC) regarding whether XRP is a security, which has had a significant impact on the XRP market in recent years, but has ultimately been effectively resolved!
And when the coin brother was at XRP0. several, he let friends in the consensus circle layout, comment 888 free to board!!
