Ripple

Ripple refers to both a digital payment protocol and a cryptocurrency (often denoted as XRP) used within that protocol. The Ripple network facilitates real-time cross-border transactions between different currencies, aiming to allow secure and instant transfer of money globally. It uses a technology called the XRP Ledger, which is a decentralized blockchain system. Unlike traditional cryptocurrencies that rely on mining, Ripple’s consensus algorithm allows transactions to be validated by a network of participants. This approach enhances transaction speed and efficiency, making it particularly appealing for banks and financial institutions seeking to streamline international payment processes. Ripple’s focus is on reducing the costs and complexities associated with cross-border transactions, thus aiming to transform the way money is moved around the world.