XRP
- Banking blockchain
Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Released in 2012, Ripple purports to enable "secure, instant and nearly free global financial transactions of any size with no chargebacks". It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes.
At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process. Ripples aren't mined but each transaction destroys a small amount of XRP which adds a deflationary measure into the system.
