Ripple
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Ripple(XRP) is the world's first open payment network, its goal is to build a decentralized currency system that allows anyone to create their own currency.
XRP is a cryptocurrency that was created by Ripple Labs Inc., a technology company specializing in the development and integration of payment and real-time gross settlement systems. XRP was designed to facilitate faster, more secure cross-border transactions and it operates on an open-source and peer-to-peer decentralized platform that allows for a seamless transfer of money in any form, be it USD, Yen, Litecoin, or Bitcoin.
One of the unique aspects of XRP is that it isn't mined. Instead, Ripple Labs issued 100 billion XRP at the coin's inception, with a portion held by the company and the rest distributed or sold to users and investors. Also, unlike Bitcoin which uses a decentralized system of miners competing to solve complex algorithms, XRP transactions are validated by a network of independent servers comparing transaction records. This consensus algorithm allows for transactions to be settled in about 3-5 seconds.
On 13 July 2023, Ripple scored a partial victory in its fight with the U.S. Securities and Exchange Commission in a court ruling. The U.S. District Court for the Southern District of New York held that the sale of Ripple’s token XRP did not fully constitute an “illegal securities offering.” Although this ruling is still not the final verdict, at least BTC, ETH or the 67 other tokens considered to be securities are also expected to regain legal status.
Above are only for introduction, not intended as investment advice.
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Q&A about Ripple Tokenomics
Explore the tokenomics of Ripple (XRP) and review the project details below.
What is the allocation for Ripple (XRP)?
Total supply is 100 billion
- 20% was kept by the founder's team
- 80% was contributed to the Ripple Labs entity
What is the supply schedule for Ripple (XRP)?
In December 2017, Ripple locked 55 billion XRP (55% of the total possible supply) into a series of escrows, which would release a total of 1 billion XRP each month over the next 55 months. However, the actual amount of XRP distributed can be lower than the escrow release amount, as unused XRP in each release is placed into a new escrow to release in the first month in which no other escrow currently releases.
At the same time, Ripple also sells and repurchases XRP tokens from the secondary market, which will also influence the real-time circulating supply amount. For more specific information, please visit https://ripple.com/insights/ and check quarterly market report from Ripple Official.
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Ripple(XRP) is the world's first open payment network, its goal is to build a decentralized currency system that allows anyone to create their own currency.
XRP is a cryptocurrency that was created by Ripple Labs Inc., a technology company specializing in the development and integration of payment and real-time gross settlement systems. XRP was designed to facilitate faster, more secure cross-border transactions and it operates on an open-source and peer-to-peer decentralized platform that allows for a seamless transfer of money in any form, be it USD, Yen, Litecoin, or Bitcoin.
One of the unique aspects of XRP is that it isn't mined. Instead, Ripple Labs issued 100 billion XRP at the coin's inception, with a portion held by the company and the rest distributed or sold to users and investors. Also, unlike Bitcoin which uses a decentralized system of miners competing to solve complex algorithms, XRP transactions are validated by a network of independent servers comparing transaction records. This consensus algorithm allows for transactions to be settled in about 3-5 seconds.
On 13 July 2023, Ripple scored a partial victory in its fight with the U.S. Securities and Exchange Commission in a court ruling. The U.S. District Court for the Southern District of New York held that the sale of Ripple’s token XRP did not fully constitute an “illegal securities offering.” Although this ruling is still not the final verdict, at least BTC, ETH or the 67 other tokens considered to be securities are also expected to regain legal status.
Above are only for introduction, not intended as investment advice.