XRP is a cryptocurrency developed by Ripple Labs Inc. It is designed to facilitate fast and low-cost international transactions. Here are some key details:

1. Overview

Token Name: XRP

Blockchain: XRP Ledger (XRPL)

Developer: Ripple Labs Inc.

Launch Year: 2012

Consensus Mechanism: Federated Consensus (Not Proof-of-Work or Proof-of-Stake)

2. Key Features

Fast Transactions: Settles in 3-5 seconds

Low Fees: Transaction costs are typically fractions of a cent

Scalability: Can handle 1,500 transactions per second (TPS)

Energy Efficient: Unlike Bitcoin, XRP does not require mining

Decentralized Ledger: Uses validators instead of miners

3. Use Cases

Cross-Border Payments: Used by banks and financial institutions for international transfers

Liquidity Solutions: Enables On-Demand Liquidity (ODL) to reduce pre-funding requirements

Bridge Currency: Helps exchange different fiat currencies

4. Supply & Tokenomics

Total Supply: 100 billion XRP (pre-mined)

Circulating Supply: Varies due to periodic escrow releases

Escrow Mechanism: Ripple locks a portion of XRP in escrow and releases it monthly

5. Adoption & Partnerships

Banks & Payment Providers: Ripple has partnered with Santander, American Express, SBI Holdings, and others

ODL Users: Used by financial institutions for faster settlements

6. Regulatory Challenges

SEC Lawsuit: The U.S. Securities and Exchange Commission (SEC) sued Ripple in 2020, claiming XRP is a security. Some legal victories have favored Ripple, but the case continues to impact XRP’s price and adoption.

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