Crypto Coffee Index

Ripple

Ripple

XRP is the native currency of the Ripple network that only exists within the Ripple system. One of the specific functions of XRP is as a bridge currency, which can be necessary if no direct exchange is available between two currencies at a specific time, for example when transacting between two rarely traded currency pairs. Ripple is a distributed network which means transactions occur immediately across the network - and as it is peer to peer - the network is resilient to systemic risk. Ripples aren’t mined - unlike bitcoin and its peers - but each transaction destroys a small amount of XRP which adds a deflationary measure into the system. There are 100 billion XRP at present.

Practical as a payment currency?
No, XRP is usable as bridge currency but not practical as a payment currency, not decentralised enough.

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