XRP Ledger or simply XRP is an open source software project and payment protocol that pursues the development of a credit system based on the peer-to-peer paradigm. XRP is a scalable and sustainable blockchain, as well as decentralized, public and led by a global developer community.
According to their website: “It’s fast, energy efficient, and reliable. With ease of development, low transaction costs, and a knowledgeable community, it provides developers with a strong open-source foundation for executing on the most demanding projects without hurting the environment.”
XRP is the token that runs on RippleNet, a digital payment platform which is on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is a decentralized, public blockchain. Any changes that would impact transaction processing or consensus need to be approved by at least 80% of the network. Ripple is a contributor to the network, but its rights are the same as those of other contributors.
The XRP Ledger was built specifically to be able to tokenize arbitrary assets, such as USD, EUR, Oil, Gold, reward points, and more. However, although it was initially developed for payment use cases, both the ledger and its native digital asset XRP are increasingly popular for a range of innovative blockchain use cases. New standards proposals for issuing NFTs, XRP Ledger Labs’ hooks amendment for smart contract functionality, and federated sidechains are all currently works in progress.According to CoinMarketCap, at the moment of writing this article, XRP price is US$0,755535 with a 24-hour trading volume of US$1.784.613.505. It is currently ranked number 8 in CoinMarketCap’s cryptocurrency ranking, with a live market cap of US$35.946.219.426. Besides, it has a circulating supply of 47.577.198.013 XRP coins and a maximum supply of 100.000.000.000 XRP coins.