Ripple is an open-source platform that can be used by developers to create applications for global payments and remittances. The underlying blockchain infrastructure that supports Ripple is called the XRP Ledger while XRP is the network’s native asset.
Ripple’s offering RippleNet enables mainstream financial institutions around the world to build and operate highly efficient payment systems using the power of blockchain technology. The company leverages the power of blockchain technology and the XRP cryptocurrency via RippleNet’s On Demand Liquidity service to drive financial inclusion the world over.
The XRP Ledger (XRPL) is Ripple’s very own public blockchain network. Its open-source and permissionless design can process XRP transactions within five seconds. The XRP token serves as a convenient method for users and organizations to transfer payments all around the world using the RippleNet ODL service in a decentralized manner.
Its unique technology also makes it a great way to enable cross-border remittances or transactions that require the conversion of one fiat currency into another. The XRPL uses the power of the decentralized ledger to enable cheaper and more scalable payment transfers across the world.
XRP - Ripple’s native cryptocurrency, is also one of the top 10 cryptocurrencies by market cap. As one of the largest cryptos based on market cap, it is one of the most popular digital assets to invest in among crypto traders.
You can learn more about XRP (XRP) at our KuCoin Blog.