In fact, although Ripple Labs Inc provides the XPR currency code and manages its ongoing distribution, The company has no control over this currency code and the Ripple Consensus Ledger, which is the blockchain of the XPR platform, and has introduced them as open source software.
What is Ripple?/h2>
Both the company and the payment method we mentioned are known as Ripple, but it is the payment protocol that matters to us. The Ripple we are discussing is an instant gross settlement system based on an open source distributed protocol that includes the XPR and RippleNet headquarters.
Both financial and non-financial titles can integrate the protocol with their systems . This protocol is open and anyone can join it without any prior consent from Ripple. Therefore, the Ripple protocol and the XPR currency code are two completely separate titles offered by Ripple Labs Inc. Ripple has stated that its goal is to enable secure, fast, and almost free global transactions of any size and No refund. To this end, the system introduces itself as an alternative to the SWIFT mechanism, or "global community of interbank financial communications," which is now used by banks around the world as intermediaries for their financial transactions./p>
What is XPR General Office?
XPR General Office supports the Ripple protocol and, like any other blockchain, is a distributed general office connected on a peer-to-peer network basis. However, there is a key difference with other blockchains: the consensus mechanism.
Running on a peer-to-peer distributed network means that the XPR General Office faces challenges that other blockchains face. : Solve the problem of double-spend and ensure a network-wide consensus on the status of accounts and balances. Trusted uses the XPR Ledger Consensus Protocol. For this reason, unlike other blockchains, it does not rely solely on "proof of work" or "share proof" mechanisms and uses its own consensus mechanism.
- 5 key mechanisms of the cryptocurrency world that you should know li>
What is XPR?
XPR is the local currency code for Ripple's "XPR General Office", which Ripple itself calls a digital asset. XPR was mined before supply and 100 billion units were created, which according to the protocol, this amount can neither increase nor decrease.
When XPR was created, the creators gave 80% of this currency to Ripple They transferred and kept the remaining 20% for themselves. Because the company's possession of this vast amount of XPR gave the company a lot of power to price the currency, $ 50 billion of it was transferred to a trust account to prove its goodwill.
This account Amani is overseen by an in-house smart contract that controls the supply of XPR. The smart deal is designed to deliver one billion XPR per month for five years, while returning any unused XPR to a trust account and adding another month to that 5-year period.
How are Ripple and XPR interdependent?
It all comes down to ownership and who controls what. The fact is that Ripple Labs Inc., with most of its existing XPR reserves, can control the currency, even if it has transferred part of it to a trust account. Also, the company's net worth will depend entirely on increasing or decreasing the value of XPR.
Source: Make Use OfTags: ripple, xpr;, what, difference, between, two?