$XRP

XRP is a digital currency created by Ripple Labs, aimed at enhancing the efficiency of international payments. Its main goal is to provide a fast, low-cost, and scalable cross-border payment solution to compete with traditional SWIFT systems.

Key Features of XRP

1. High-speed transactions: Transaction confirmation time is about 3-5 seconds, much faster than Bitcoin (BTC) and Ethereum (ETH).

2. Low transaction costs: The transaction fees for XRP are extremely low, usually less than $0.0002.

3. Decentralized network: The XRP Ledger (XRPL) is a consensus mechanism network that does not require mining, confirming transactions through validator nodes.

4. Main uses:

• Cross-border payments for banks and financial institutions (e.g., Santander, American Express have trialed Ripple technology)

• As a liquidity bridging asset within RippleNet

The Relationship Between XRP and Ripple

• Ripple Labs is a company responsible for developing and promoting XRP and the RippleNet network.

• XRP itself is not an asset owned by Ripple, but Ripple still holds a large amount of XRP and regularly releases it to the market (this has caused controversy).