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3. Make payment
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What is Ripple?
Ripple is a digital payment protocol designed for fast, secure, and low-cost cross-border transactions. It aims to enable instant settlement of payments and facilitate the exchange of different currencies. XRP is the native cryptocurrency of the Ripple network and can be used as a bridge currency for facilitating transactions.
How does Ripple work?
Ripple operates on a decentralized consensus ledger, known as the XRP Ledger. It uses a unique consensus algorithm that doesn't rely on mining. Validators on the network confirm transactions and reach consensus, allowing for fast transaction times and scalability. Ripple's focus is on serving financial institutions and enabling seamless cross-border payments.
History of Ripple
Ripple was conceived in 2012 by Jed McCaleb and Chris Larsen. It aimed to revolutionize the traditional financial system by providing a more efficient way to transfer value across borders. The company Ripple Labs developed the XRP Ledger, and XRP was created as the native cryptocurrency to facilitate transactions on the network.
How to buy Ripple (XRP)?
You can buy XRP in the Bitcoin.com Wallet app in a few taps. Pay with credit card, bank transfer, or payment app and receive XRP directly in your self-custody wallet. Ripple can also be purchased directly on this page and sent to the Ripple (XRP) wallet of your choice.
How to use Ripple for payments?
XRP can be used for fast cross-border payments on the Ripple network. Financial institutions can leverage Ripple's technology to settle transactions quickly and at a lower cost compared to traditional systems. XRP can also be traded on various cryptocurrency exchanges.
