What is XRP?

XRP is a digital asset native to the XRP Ledger (XRPL), an open-source, decentralized blockchain created in 2012. Designed specifically for payments, XRP can settle transactions in just 3-5 seconds with fees less than a fraction of a cent.

Unlike Bitcoin, which uses energy-intensive proof-of-work mining, the XRP Ledger uses a unique consensus protocol that is fast, energy-efficient, and environmentally sustainable. The network can handle approximately 1,500 transactions per second.

100 billion XRP were created at the ledger's genesis — no more can ever be minted. Small amounts of XRP are burned with every transaction, making it slightly deflationary over time. XRP serves as both a bridge currency for cross-border payments and a utility token powering the XRPL ecosystem.

The XRP Ledger was built by three visionary engineers: Jed McCaleb, Arthur Britto, and David Schwartz. Development began in 2011, and the ledger launched in June 2012.

Jed McCaleb, previously known for founding Mt. Gox (the first major Bitcoin exchange) and later Stellar, conceived the initial idea. David Schwartz, now Ripple's CTO, architected the core consensus protocol. Arthur Britto contributed fundamental design work on the ledger's architecture.

Together, they created a blockchain that could process transactions in seconds rather than minutes, using a fraction of the energy of proof-of-work systems. The trio later co-founded the company now known as Ripple to develop enterprise solutions on the technology.

Ripple is a San Francisco-based technology company that builds enterprise solutions for cross-border payments and digital asset infrastructure. Founded in 2012 as OpenCoin, it rebranded to Ripple Labs in 2013 and then simply Ripple in 2015.

Ripple's flagship product, On-Demand Liquidity (ODL), uses XRP as a bridge currency to enable instant cross-border payments without pre-funded accounts. This solves a major pain point in international finance where trillions of dollars are locked in nostro/vostro accounts.

It's important to understand that Ripple and XRP are related but distinct. XRP is a decentralized digital asset that exists on the XRP Ledger — it would continue to function even if Ripple ceased to exist. Ripple is a private company that is one of many participants building on the XRPL ecosystem.

Brad Garlinghouse serves as CEO of Ripple, leading the company since 2017 through its most challenging and transformative period, including the SEC lawsuit. Under his leadership, Ripple has expanded to hundreds of enterprise customers worldwide.

David Schwartz (known online as "JoelKatz") is Ripple's CTO and one of the original architects of the XRP Ledger. He continues to guide the technical evolution of both the ledger and Ripple's products.

Monica Long serves as President of Ripple, overseeing the company's product strategy and operations. She has been with Ripple since its early days and has played a key role in shaping its market position.

Stuart Alderoty is Ripple's Chief Legal Officer who led the company's defense in the landmark SEC lawsuit. His legal strategy resulted in a favorable ruling that XRP sales on exchanges are not securities.

The vision for XRP extends far beyond simple payments. At its core, XRP and the XRP Ledger aim to enable an "Internet of Value" — a world where money moves as easily and quickly as information does today.

Today's financial system relies on infrastructure built decades ago. International transfers can take days and cost significant fees. Trillions of dollars sit idle in pre-funded accounts. XRP was designed to solve these inefficiencies.

Looking ahead, the XRP Ledger ecosystem continues to expand with native NFT support, automated market makers (AMMs), sidechains, and smart contract capabilities. Ripple's RLUSD stablecoin adds a stable-value asset to the ecosystem, while growing institutional adoption and potential ETF products signal mainstream acceptance.

With the SEC case resolved, clearer regulations emerging globally, and increasing enterprise adoption, XRP is positioned to play a significant role in the future of digital finance.

The XRP Ledger (XRPL) is one of the most established public blockchains in existence, running continuously since 2012. It uses a unique Federated Byzantine Agreement consensus protocol that doesn't require mining or staking.

Key features of the XRPL include a built-in decentralized exchange (DEX), native token issuance, NFT support (XLS-20), automated market makers (AMMs), escrow, payment channels, and multi-signing. The ledger settles transactions in 3-5 seconds with near-zero fees.

The XRPL is maintained by a global network of validators. While Ripple runs some validators, they represent a minority of the network. The XRPL Foundation, an independent nonprofit, supports the ecosystem through grants, governance, and community building.