![]() Eco-friendly: since XRPL is not built on a Proof-of-Work (PoW) consensus mechanism, it consumes less resources for its operations than Bitcoin and other PoW coins.Stable: since its inception in 2012, all ledgers closed without issue ( 56 million+ ledgers closed as of July 2020).Distributed: XRPL has over 140 validators distributed across the globe.Since XRPL supports payment channels, this ceiling could be potentially be further raised. Scalable: the XRP Ledger is technically capable of handling over 1,500 transactions per second.Speed: payments moving across the XRP Ledger settle in 3-5 seconds.1.3 Usage of XRPĪccording to information provided by Ripple, XRP has the following traits that make XRP best suited for payments: However, anyone is able to create and publish their own UNLs for others to use. This list is called a Unique Node List (“UNL”) and comprises - as of 2020 Q2 - 36 validators out of a total of 140 validators. The Ripple team publishes a list of nodes that its own servers refer to during consensus and which other servers can choose to also refer to. The ledger reaches consensus on all outstanding transactions every 3-5 seconds, at which point a new ledger is issued.Īny party may become a validator. This agreement, called consensus, serves as the final and irreversible settlement. Once the set of transactions is agreed upon, the transactions are executed in a deterministic order, subject to the objective rules of the network, as imposed by every server independently. In the XRP Ledger, validator nodes collect the set of all candidate transactions and come to an agreement on which transactions, if any, occurred before the cut-off time for any given ledger. XRP can be used by a wide range of third parties, who ought to develop innovative value-adding solutions in a decentralized manner. The vision for XRP is for it to transform global payments by having improved utility over legacy payment channels. It is the native digital asset on the XRP Ledger - an open-source, permissionless, and distributed ledger that is operated by a network of peer-to-peer servers. XRP is a digital asset built to “power innovative technology across the payments space”. ![]()
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