Coin Name: Ripple
Token Name: XRP
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open source protocol and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks." The ledger employs the decentralized native cryptocurrency known as XRP, which as of April 2020 was the third-largest coin by market capitalization.
The XRP Ledger processes transactions roughly every 3-5 seconds, or whenever independent validator nodes come to a consensus on both the order and validity of XRP transactions — as opposed to proof-of-work mining like Bitcoin (BTC). Anyone can be a Ripple validator, and the list is currently made up of Ripple along with universities, financial institutions and others.
XRP can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies quickly and efficiently.
Total Circulation: 44 billion
Official Website: https://ripple.com/xrp/