What is Ripple? The name has been incredibly prominent within the cryptocurrency space, for reasons both positive and negative. In short, Ripple is a payment protocol that facilitates fast, frictionless cross-border payments with minimal fees. This technology is based on a series of servers communicating constantly, while maintaining a distributed ledger with the latest state of balances and transactions.
The payment protocol also hosts its native asset, XRP, which acts as the chief medium for transferring value over the network. XRP, rebranded in late 2018, formerly bore the name Ripple.
How Does RippleNet Work?
RippleNet is the latest iteration of Ripple’s payment protocols. In late 2019, Ripple, Inc. united all its products into one network, which could be used in various ways to transfer value. RippleNet allows for the usage…
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