• Ripple started its cryptocurrency operations in 2013 when Jed McCaleb invested in Ripple Labs, founded in 2014
• Ripple was created in 2004 by Chris Larsen, Jed McCaleb and Arthur Britto
• XRP works on ‘Proof of Correctness (PoC) Protocol
• XRP All Time High (ATH) price is $3.38
Early 2013 was when Ripple Labs was created. Ripple's blockchain services with their native XRP token was released to act as an intermediator between two fiat transactions.
RippleNet - Offers businesses and financial institutions a number of programs that help cross-border payments. It offers Blockchain based payment services to banks and financial institutions. It regulates it via xVia, xRapid and xCurrent protocol.
Ripple promotes safe, immediate and nearly free global monetary transactions. The tokens or assets on the platform can represent real money, digital currency, commodity or any other intrinsic value items like the number of phone minutes.
XRP is a token used for representing the transfer of value across the Ripple Network. The main purpose of XRP is to be a mediator for other - both cryptocurrencies and fiat - exchanges. Ripple has partnered with 200+ banks and global financial institutions to create an efficient payment system.
R3, a consortium of banks and a DLT (Distributed Ledger Technology) provider also uses XRP as the primary settler token for accounts on their ‘Corda’ platform.
Ripple relies on a shared, public ledger employing a consensus process that allows payments, exchanges, and remittance in an allocated process.