XRP

XRP is a digital cryptocurrency created by Ripple Labs Inc. It was designed to facilitate fast and low-cost international money transfers and remittances. XRP acts as a bridge currency in the Ripple network, enabling the exchange of different fiat currencies without the need for traditional banking intermediaries. Unlike many cryptocurrencies that rely on mining, XRP was pre-mined, with a total supply of 100 billion coins. Its consensus algorithm allows for secure and efficient transactions, making it distinct from Bitcoin and its proof-of-work model. XRP aims to improve the efficiency of cross-border transactions by reducing the time and cost associated with currency exchange.