1. What is XRP?
Ripple (XRP) is a real time gross settlement system (RTGS), currency exchange and transfer system. The Ripple network was created in 2012 to repeat Ripplepay's growth, with the aim of making it easy for people to use banking, credit cards, paypal or other financial institutions, Extremely low cost, high security and fast processing speed. Ripple has a similar function as the SWIFT system.
2. Are XRP and Ripple the same?
Ripple and XRP are not the same. While Ripple is a company, XRP is the token created by it to support their transactions.
- Cory Johnson, chief marketing strategist for Ripple, explains: “Ripple is an enterprise software company and XRP is a self-trading digital asset. XRP is owned by so many people in many places. We happen to own a lot of XRP - we own a lot of cash, chairs and computers - but the company is called Ripple and we sell software. ”
3. Further explanation of Ripple & XRP:
Previously Ripple was the main name of the project, and XRP is the code or coin issued by Ripple, but recently Ripple has officially renamed Ripple to XRP and changed its brand logo, you can see this on the website. their official and on CoinMarketCap.
