Ripple (cryptocurrency)

Ripple (cryptocurrency)

Ripple is a global currency exchange and remittance network that aims to lower the cost and improve the speed of international bank transfers relative to legacy financial infrastructure.

Ripple is a global currency exchange and remittance network that aims to lower the cost and improve the speed of international bank transfers relative to legacy financial infrastructure. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native currency called XRP (ripples). Ripple's consensus is based on the Federated Byzantine Agreement (FBA) -- a kind of middle ground between public, permissionless blockchains such as Bitcoin and private, permissioned blockchains such as Hyperledger Fabric.

Ripple was released in 2012, helping to enable "secure, instant and nearly free global financial transactions of any size with no chargebacks."

At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process. In 2014, Ripple defended the security of its consensus algorithm against a competitor; Stellar Network. Currently, Ripple is the third-largest cryptocurrency by market capitalization, after Bitcoin and Ethereum. Used by companies such as UniCredit, UBS or Santander, the Ripple protocol has been increasingly adopted by banks and payment networks as settlement infrastructure technology.


With the Ripple ledger, people can send and receive different types of fiat currency or cryptocurrency. XRP is the native currency of the ledger, but by preparing trustlines, in other words a trust relationship between two parties, two financial organizations or people can trade with multiple currencies, all on the Ripple ledger. In this way, banks can send money across the world in just seconds, not days. The foreign currency that is held on the ledger is in the form of an IOU. In addition, if one party sought to purchase a foreign currency from a party for which they have no direct trustline, Ripple provides a path-finding algorithm that connects the two parties through indirect trustlines. This mechanism is called 'rippling' and consumers who have multiple gateways in the same currency can 'allow rippling' on their account to receive a small transit fee for allowing inter-gateway liquidity.

Spam prevention

Every Ripple wallet must have a minimum of 20 XRP and every transaction mandates a fee in Ripple. This helps to prevent flooding of the network from adversaries who wish to thwart it.


November 12, 2013

Ripple raises a $3,500,000 seed round from Core Innovation Capital, Camp One Ventures and IDG Ventures.

April 11, 2013

Ripple raises a $2,500,000 seed round from Andreessen Horowitz and Lightspeed Venture Partners.



Nithin David Thomas


Royce Raju Beena


Vinayak Radhakrishnan


Further reading


Solution Overview



The Ripple Protocol Consensus Algorithm

David Schwartz, Noah Youngs and Arthur Britto


Documentaries, videos and podcasts

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Romain Dillet
December 20, 2019
Ripple has raised a $200 million Series C funding round. Tetragon is leading the round, with SBI Holdings and Route 66 Ventures also participating. According to Fortune, the company is now valued at $10 billion. "We are in a strong financial position to execute against our vision. As others in the blockchain space have slowed [...]
Gertrude Chavez-Dreyfuss
November 20, 2019
About $400 million of XRP tokens, the currency for the Ripple payment network, is tied to illegal transactions, according to findings released on Wednesday by London-based Elliptic, a provider of risk management systems for the cryptocurrency industry.
November 6, 2019
New data from Juniper Research has shown that the total value of B2B cross-border payments immutably stored on blockchain will exceed $4.4 trillion by 2024; up from $171 billion in 2019. Blockchain enables real-time clearing and settlement for B2B transactions, while offering increased transparency and reduced costs., , , , The new research, Blockchain: Key Vertical Opportunities, Trends & Challenges 2019-2030 , revealed that financial institutions will save $7 billion by 2024, due to...
Tom Wilson
October 10, 2019
Facebook's Libra may be grabbing all the headlines at the moment, yet a major cryptocurrency already exists that's gained a toehold in mainstream commerce.
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CHICAGO, Feb. 15, 2019 /PRNewswire/ -- ChainFront, an API-as-a-Service company that removes the complexity of using, building, and managing blockchain wallets...
February 9, 2019
LAWRENCE, Kan. (AP) -- A Silicon Valley company has donated $2 million to the University of Kansas to support research related to cryptocurrency and digital payments, such as Bitcoin. The university says in a news release that the donation from Ripple will provide $400,000 each year for five years. It will go to the Information and Telecommunication Technology Center at the Kansas School of Engineering. The university will determine its own research topics and Ripple, which provides digital commerce services, will collaborate with students and faculty and provide technical resources and expertise.
Tom Arnold
Invalid Date
United Arab Emirates-based UAE Exchange and U.S. startup Ripple plan to launch cross-border remittances to Asia via blockchain by the first quarter of 2019, UAE Exchange's group CEO said in an interview.