$XRP

It is a digital currency created by Ripple Labs in 2012, primarily used in the RippleNet network designed to facilitate international financial transfers between financial institutions (such as banks) at low cost and high speed. Here’s an overview of XRP:

1. Primary Purpose:

- XRP is designed to act as a Bridge Currency between different currencies, allowing for fast and efficient cross-border money transfers without the need to convert currencies to US dollars or other intermediary currencies.

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2. Technical Features:

- Speed: Transactions occur in just 3-5 seconds, compared to many other currencies that may take minutes or hours.

- Low Cost: Transaction fees are less than $0.01 per transaction.

- Sustainability: It does not rely on energy-consuming Proof of Work algorithms like Bitcoin, but instead uses a unique consensus mechanism that consumes less energy.

- Scalability: The XRP network can handle 1,500 transactions per second, with the ability to scale up to 50,000 transactions per second.