XRP is digital money & asset for Peer-to-Peer web payment on Open-Source Blockchain using Public Ledger (XRP Ledger). Many people may be confused XRP with “Ripple”.
XRP is a Private/Consortium Blockchain network that is used by financial institutions for Real-Time & Low-cost Cross-Currencies transactions (including Bitcoin). Ripple uses XRP Ledger on its blockchain and uses XRP as a “bridge currency”. However, it’s hard to say that XRP is a decentralized platform because even if the number of validators has been growing recently, the currency gateway can freeze the transaction if the validators found it suspicious.
XRP was developed to serve as both a digital currency and a digital payment network mainly for financial transactions among users. XRP that is operating in Ripple enables one to transfer money using Ripple technology in one country and transfers it back to another country’s currency.
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