#PowellRemarks

Types of cryptocurrencies

Many cryptocurrencies were created to facilitate work on the blockchain they are based on. For example, Ethereum's ether was designed to be used as a payment method to validate transactions and open blocks. When the blockchain adopted proof of stake in September 2022, ether (ETH) assumed an additional role as a staking mechanism for the blockchain.

XRP from the XRP Ledger Foundation is designed for financial institutions to facilitate transfers between different geographies. We urge you to learn about cryptocurrencies .......