XRP ~ A Digital Asset designed to bridge the many different currencies in use worldwide.
The total supply of XRP is finite and is much less likely to have hyperinflation. The following factors contribute to decrease the circulation and decrease this finite XRP supply.
- Sending transactions in the XRP Ledger destroys a small amount of XRP.
- Each account wallet in the XRP Ledger must hold 20 XRP in reserve at all time.
- Ripple Labs, Inc holds a large reserve of XRP in escrow. Each month, 1 billion XRP is released to incentivize growth or is sold to institutional investors or exchanges.
- The monthly remaining XRP is stored into escrow for a 54-month period.
XRP FEES
For Every XRP sent over the Ledger, there is a tiny fee.
This became necessary to reduce Spamming of the Ledger.
The fractional currency of 1 XRP are called Drops.
Currently the minimum transaction requires .00001 XRP = 10 Drops. The fee increases for higher loads.
2 Transaction types with higher fees:
This became necessary to reduce Spamming of the Ledger.
The fractional currency of 1 XRP are called Drops.
Currently the minimum transaction requires .00001 XRP = 10 Drops. The fee increases for higher loads.
2 Transaction types with higher fees:
- 'Multi-signed Transactions'
- 'Escrow Finish Transactions'...Deliver XPR from a Held Payment to the Recipient. This fee is 330 Drops XRP + (10Drops x 16byte increment size in the load)
XRP BURN RATE
- For every XRP sent over the Ledger, the transaction fees are automatically sent to a dedicated wallet and 'burned'.
- This deflationary process is always reducing the supply of XRP available.
XRP USE CASE
- 'Multi-signed Transactions' give Greater Security to process the Payment of Funds requiring multiple holders to authenticate a transaction.
- 'Escrow Finish Transactions' activate when preconditioned rules are met & verified by a Smart Contract. Software companies like Ripple Labs, LLC hire developers to write Smart contracts. These decentralized and autonomous software programs can administer Commission sales, Held Real Estate Escrow directives, Perishable Cargo Delivery, Inheritance Trusts, Supply Chain Interoperability to give a few Use Case examples.
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There is a maximum of 20 XRP per tip.Why Use XRP ???
- XRP is FAST: Settles in less than 3 Seconds
- No Middle Man
- Less than a Penny to send
- No Payment is Too Small or Large
- Accepted Globally
