December 4, 2019


Ripple is either a type of digital currency, i.e., cryptocurrency, or an open payment network. As a digital currency, people often use the abbreviation XRP. It is a currency exchange, real-time gross settlement system (RTGS), and remittance network.

Chris Larsen and Jed McCaleb founded the Ripple company, which has its headquarters in San Francisco, California.

People also refer to the network as RTXP. According to Wikipedia:

“It is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP.”

Ripple says that its network provides one frictionless experience to send funds across the world using the power of blockchain. A blockchain is a list of blocks (records) that is forever growing.

Within these blockchains, there are fully-automated smart contracts. These smart contracts, which are self-executing, consist of lines of computer code.

The protocol’s creators say that they aim to help people break free of the financial networks’ current ‘walled gardens.’

They say that, for example, banks, PayPal, credit cards, and other financial institutions restrict access. Specifically, they restrict access with fees, process delays, and currency exchange charges