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How XRP Develops Payment Capabilities on the Blockchain and Expands Beyond

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by Giorgi Kostiuk

13 hours ago


XRP was created as an improved version of Bitcoin, addressing issues of slow transactions and low scalability. It has become a significant part of the financial system, providing new opportunities for international transfers and digital currencies.

XRP's Technical Features

The XRP Ledger (XRPL) was developed by engineers David Schwartz, Jed McCaleb, and Arthur Britto in 2011. They aimed to create a faster and more scalable digital asset for payments compared to Bitcoin. Since its launch in June 2012, XRP can process 1,500 transactions per second, significantly exceeding the capabilities of Bitcoin and Ethereum.

XRP's Role in International Transfers

XRP was designed as a bridge currency, allowing value to be transferred between different fiat currencies instantly without requiring pre-funded accounts. Currently, over 80% of Ripple's global remittance volume is processed using On-Demand Liquidity (ODL), and in the first quarter of 2025, the XRPL processed over 170 million transactions.

The Future of XRP and XRPL

Beyond interbank transfers, XRP now supports Ethereum-compatible capabilities through its EVM sidechain. This allows for the development of tokenized assets and experimentation with central bank digital currencies. Interest in XRP is growing, as evidenced by the increase in wallets holding over 1 million XRP.

XRP continues to evolve, offering not only payment capabilities but also solutions for future digital assets. It is viewed not as a competitor to Bitcoin but as an essential component of the growing blockchain ecosystem.

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