XRP is the digital currency of Ripple Labs, and its main goal is to facilitate international financial transfers quickly and at a low cost.
Let me explain it in a simple way 👇
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💡 1. General Idea
Ripple does not aim to be a "speculative digital currency" like Bitcoin,
but rather wants to be a global financial transfer system used by banks and financial institutions.
🔹 Example:
If a bank in Algeria wants to send money to a bank in Japan,
usually the process takes days and requires intermediaries (like SWIFT).
But using XRP and the RippleNet network,
the transfer occurs in seconds and at a very low cost.
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⚙️ 2. How do Ripple and XRP work?
RippleNet = The communication network that connects banks with each other.
XRP Ledger = The blockchain specific to Ripple, which is a distributed system for recording transactions.
XRP = The currency used as an intermediary for exchanging currencies between countries quickly.
🧩 Practical Example:
1. An Algerian bank wants to send 100,000 dinars to Japan.
2. The system converts the dinars to XRP immediately.
3. Sends XRP across the network (takes 3-5 seconds).
4. The other party receives it and converts it to Japanese yen.
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⚡ 3. Features of XRP
✅ High Speed: One of the fastest networks, the process takes only 3-5 seconds.
✅ Very Low Fees: Less than $0.001 per transaction.
✅ Low Energy Consumption compared to Bitcoin (does not rely on mining).
✅ Used by large banks and companies (like Santander, American Express...).
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💰 4. The Difference Between XRP and Bitcoin
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