XRP is a cryptocurrency developed by Ripple used for fast, low-cost, and secure global money transfers.
Soucrce: Frobes

Amidst the crypto market eagerly anticipating the SEC's decision on ETF approval, XRP has recorded steady growth. XRP is currently trading at $0.5736, up 1.61% in the last 24 hours and 62.27% over the past year.

Rumors about Vinfast accepting XRP as payment for car purchases have also contributed to the increased attention on XRP in recent days.

Ripple's cryptocurrency has shown a strong recovery in the past year after a challenging period due to lawsuits with the SEC. Ripple's UBRI research collaboration program has been implemented to encourage solutions that benefit financial services and expand the application of blockchain, improving various other areas of society such as assets and healthcare.
Read more: https://coinbay.io/vi/tin-don-vinfast-cho-dung-xrp-de-thanh-toan-28530

What is XRP token?

XRP is a cryptocurrency representing value transfer on the Ripple network. It serves as an intermediary in many transactions, enabling banks and financial institutions to conduct fast and cost-effective international money transfers. XRP has a widespread payment network and is commonly used on various exchanges.

Overview of Ripple

Ripple is a company operating in the real-time payment sector, utilizing an exchange network for fund transfers. Ripple facilitates users of financial institutions and banks with low fees and swift transaction processing times.

In 2001, Ryan Fugger proposed the idea of a decentralized digital currency system called RipplePay. The Ripple network began its operation in 2005 with the goal of providing a secure global payment solution.

In 2012, Fugger collaborated with Jed McCaleb and Chris Larsen to establish the technology company OpenCoin in the United States. Ripple attracted investments from major funds such as Google Ventures and Andreessen Horowitz.

Subsequently, Ripple started developing protocols focused on payment solutions for financial institutions and banks. In 2013, OpenCoin rebranded as Ripple Labs. In 2015, the company officially changed its name to Ripple.

The Difference between Ripple and XRP

Ripple is a company founded in 2012 by Chris Larsen and Jed McCaleb, developing the payment protocol RippleNet, which helps financial institutions execute quick and efficient money transfers.

XRP is a cryptocurrency used for payments on the RippleNet network, created by Ripple Labs. The company owns approximately 60 billion XRP, equivalent to about 60% of the total supply.

Tokenomics

• Ticker: XRP
• Blockchain: XRP Ledger
• Consensus Algorithm: XRP Ledger consensus protocol
• Token Type: Utility Token
• Average Block Time: 4 seconds
• Average Transaction Time: 1,500+ TPS
• Smallest Unit: 1 XRP = 10^5 drops
• Maximum Supply: 100,000,000,000 XRP
• Total Supply: 99,991,316,762 XRP
• Circulating Supply: 43,248,091,671 XRP

XRP Allocation

XRP has a total supply of 100 billion, with Ripple Labs holding 80%, and the remaining 20% distributed among the founders as follows:

Ripple Labs

With an 80% ownership of the total XRP supply, Ripple Labs has the authority to decide whether to sell or distribute XRP for free to stimulate the development and promotion of the RippleNet product. From January 2013 to July 2015, Ripple sold approximately 16.5 billion XRP, with 12.5 billion XRP sold to partners, and the remaining 4 billion XRP used to cover the company's operational expenses.


In late 2017, Ripple established an Escrow fund to support RippleNet operations with a 55% allocation (55 billion XRP). Each month, one billion XRP is unlocked to cover expenses. Unused funds are returned to the Escrow fund at the end of the month and await the next disbursement.

Founders:

The remaining 20% of XRP is owned by the three founders of the XRP Ledger: Chris Larsen, Jed McCaleb, and Arthur Britto. Chris Larsen and Jed McCaleb each own 9.5 billion XRP, while Arthur Britto owns the remaining one billion XRP.

In 2014, Jed McCaleb left Ripple to establish the Stellar network (XLM). The release of Jed's XRP is subject to the following terms:

• In the first year, Jed can sell a maximum of $10,000 per week.
• From the second to the fourth year: a maximum of $20,000 per week.
• In the fifth and sixth years: a maximum of 750 million XRP per year.
• In the seventh year: a maximum of one billion XRP per year.
• After the seventh year: a maximum of two billion XRP per year.

However, in 2016, this agreement was amended after Ripple suspected Jed of violating the initial terms. Under the new agreement, Jed had to contribute two billion XRP to charity, and the remaining XRP (5.3 billion) was held by Ripple. The 5.3 billion XRP held by Ripple is released according to the following ratios:

• 0.5% in the first year.
• 0.75% in the second and third years.
• 1% in the fourth year.
• 1.5% after the fourth year.