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Ripple is both a payments protocol and a cryptocurrency created by San Francisco-based Ripple Labs. Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network that provides a frictionless experience to send money globally using the power of blockchain, while the decentralized XRP Ledger records all of its transactions. The Ripple network allows for seamless transfers of any form of currency, whether dollars, euros, pounds, yen or bitcoins, since it is designed to connect different payment systems together. The Ripple Transaction Protocol (RTXP) is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples), the network’s digital currency, which is currently the fourth largest cryptocurrency and one of the most valuable digital assets in the market. It is used in the Ripple payment network to make transitions, pay for transaction fees and is kept as a reserve in wallet addresses that use the network. The Ripple network can process over 1000 transactions per second. Finally, the most secure option for private individuals looking to invest in ripples is the hardware wallet Ledger Nano S, as it allows for cold storage. Ripple Labs has become the leading blockchain technology provider for payments and settlement solutions for financial services companies.


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