Did you know that $XRP is not mined like Bitcoin? 🤔
Hello everyone 👋 This is my first post here and I'm excited to share a bit about the crypto world with you.
Today I want us to briefly talk about XRP (Ripple). It is one of the cryptocurrencies with the highest market capitalization, but did you know that its operation is quite different from that of Bitcoin or Ethereum?
Unlike many other cryptos, $XRP is not "mined". All units of XRP (100 billion in total) were pre-mined by its creators. This means there are no miners competing to validate transactions and create new coins. Instead, the Ripple system uses a faster distributed consensus algorithm to validate transactions.
This makes it ideal for its primary use case: facilitating fast and low-cost cross-border payments for financial institutions. Its goal is to be a bridge between different fiat currencies (like dollars, euros) and cryptocurrencies.
It is a project with a very clear purpose and has been in the public eye for years. Interesting, right?
What do you think of $XRP and its role in the future of finance? I would love to read your comments! 👇
