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XRP

Overview#

XRP is a Cryptocurrency that only exists within the Ripple Transaction Protocol network

There were 100 billion XRP created at Ripple's inception, with no more allowed to be created according to the Ripple Transaction Protocol rules. As such, the system was designed so XRP is a scarce asset with decreasing available supply.

XRP is not dependent on any third party for redemption, XRP is the only currency in the Ripple Transaction Protocol network that does not entail counterparty risk, and it is the only native digital asset. The other currencies in the Ripple network are debt instruments (i.e. liabilities), and exist in the form of balances. Users of the Ripple Transaction Protocol network are not required to use XRP as a store of value or a medium of exchange. Each Ripple account is required, however, to have a small reserve of 20 XRP (US$6.58 as of May 16, 2017[112]). The purpose for this requirement is discussed in the anti-spam section.

More Information#

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