A Bridge Currency To Move Between Various Fiat Currencies.
- The XRP Ledger (XRPL) is a distributed ledger that is powered by a network of peer-to-peer servers. Its native asset and currency is XRP, a digital asset designed as a bridge currency to move between various currencies.
- While the supply of XRP is capped at a total of 100 billion XRP, the available supply of XRP actually decreases over time, as small amounts from transaction cost payments are destroyed.
- The company Ripple administrates and maintains XRPL and contributes to advancing XRP by - amongst other things - including it in its service offering. The Interledger Protocol on the other hand is a network agnostic protocol, that is also supported by XRPL. Additionally, XRPL offers some integrated smart contract functionality.
- XRPL's consensus mechanism is self-developed, scalable (throughput of roughly 1500 tx per second) and is based on the idea "that a little trust goes a long way". XRPL's software makes it further possible to switch cryptographic algorithms, reflecting the current state of the art.
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