What is Ripple: The Blockchain Payments Firm

What is  Ripple: The Blockchain Payments Firm

Ripple is actually an enterprise blockchain payments company based in San Francisco, California. RippleNet and On-Demand Liquidity (ODL) are it’s two unique offerings.

Ripple’s objective is to enable banks, payment processors, and other financial institutions, to conduct super fast and efficient international payments. And how?

Through real-time settlement of monetary transactions with adequate transparency and security. RippleNet and ODL both help Ripple spread the ‘no-sweat borderless transactions’ message.

While RippleNet is directly under the operational control of Ripple, XRP Ledger (XRPL) is an independant decentralized open-source platform.

XRPL is a distributed ledger to track all XRP transactions. Ripple’s customers sign up to use RippleNet for real-time settlement of transactions. But these transfers happen on XRPL, with the help of XRP

XRPL participants function as independent validating nodes and compare transaction records to ascertain the authenticity of transactions.

As per updated records, the network of active validators stands at 147 and include universities, exchanges, and financial institutions.

Ripple has constantly impressed upon the fact that XRPL is an independent platform and free from any kind of commercial association.

This implies that even if Ripple shuts down, the XRP Ledger will continue to operate normally.

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