Ripple is a technology designed for the global transfer of assets through existing financial institutions. It creates a secure, instant transfer of assets on a neutral ledger to ensure quick transactions that aren’t reliant on any single institution’s technology. Ripple’s currency (XRP) is used to pay the transaction fees associated with the transfers. XRP is a deflationary currency, so that each time a transaction occurs, these XRP coins are gone forever. There are currently 100 billion coins, with Ripple Inc. holding approximately 60% of them. Ripple was designed to work in harmony with regulators by keeping their detailed ledger as a neutral third party transaction service between financial institutions. This crypto investment can currently process over 1,000 transactions per second, in comparison to Bitcoin, which can process up to seven transactions within the same time frame.
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