Ripple is a blockchain-based payment protocol designed to enable fast, low-cost cross-border financial transactions. Utilizing its native cryptocurrency, XRP, Ripple facilitates real-time gross settlement, currency exchange, and remittance services. The platform’s consensus algorithm allows for secure and instant verification of transactions, making it a preferred solution for financial institutions looking to streamline global payments. Ripple’s technology has the potential to disrupt traditional banking systems by reducing the cost and complexity of international money transfers, offering a decentralized alternative to legacy payment networks.
