Ripple (XRP) is the fundamental currency of the Ripple network, officially issued in 2011 with a total supply of 100 billion. Unlike traditional cryptocurrencies, XRP is not generated through mining; it is pre-mined and released by Ripple at a rate of 1 billion per month.
Different from other cryptocurrencies, XRP does not operate on a blockchain but rather employs a unique protocol formula known as the Ripple Protocol Consensus Algorithm (RPCA). Nonetheless, it functions similarly to a blockchain, with consensus and verification mechanisms to ensure rapid transaction validation and recording.
XRP serves as the primary bridge currency and security for the Ripple system. Compared with Bitcoin, XRP's transaction time only takes a few seconds and the fees are also very low, making it a popular choice for cross-border payments. Nevertheless, XRP's issuance and circulating supply have remained subjects of controversy.
Purchase XRP Process
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How to Buy Other Crypto Currencies
Given the market nature of cryptocurrencies, the price of XRP is subject to high market risks and price fluctuations. We recommend that you understand the operation principles of digital assets and related risks before investing in digital assets. Other factors to consider when formulating a cryptocurrency investment strategy include your own experience level, financial condition, investment goals, and risk tolerance. It is also recommended to consult an independent financial advisor before purchasing cryptocurrency. The information provided is for reference only, and LBank does not guarantee its accuracy.