[Crypto projects](https://revain.org/projects/) › XRP

# XRP: how it works, supply and reviews

Layer 1 blockchain

## Key facts

- **Ticker**: XRP
- **Category**: Layer 1 blockchain
- **Network**: own blockchain
- **Official site**: [ripple.com/currency](https://ripple.com/currency/)
- **Whitepaper**: [xrpl.org/docs](https://xrpl.org/docs)
- **Source code**: [github.com/ripple/rippled](https://github.com/ripple/rippled)

Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed.

## What is XRP

XRP is the native digital asset of the XRP Ledger, an open-source, permissionless blockchain launched in 2012 and built specifically for payments. XRP pays transaction costs on the ledger and can be used as a bridge currency for cross-border payments.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Layer-1 blockchain (XRP Ledger) with its own native asset, XRP |
| Consensus | XRP Ledger Consensus Protocol: each server trusts a Unique Node List (UNL) of validators; no mining or staking |
| Fault tolerance | Consensus continues while fewer than 20% of trusted validators are faulty |
| Launched | June 2012 |
| Block time | A new ledger version every 4–6 seconds |
| Programming language | The server software, xrpld, is written primarily in C++ (ISC licence) |
| Smallest unit | 1 drop = 0.000001 XRP |

## Supply and issuance

| Parameter | Details |
|---|---|
| Maximum supply | 100 billion XRP, all created at launch; no new XRP can be created |
| Issuance | None; there is no mining or block reward |
| Fee burn | Every transaction destroys a small amount of XRP as its transaction cost (minimum 10 drops) |
| Initial distribution | The founders gave 80 billion XRP to the company now called Ripple; Ripple placed 55 billion XRP in on-ledger escrow in 2017 |

## What XRP is used for

- Pays the transaction cost: each transaction destroys a small amount of XRP, which protects the ledger from spam.
- Bridge currency between two other currencies in cross-border payments.
- Collateral and inventory moved between trading venues.

## Who develops and governs XRP

- **Founders**: David Schwartz, Jed McCaleb and Arthur Britto (from 2011); Chris Larsen joined to start the company in 2012
- **Company**: Ripple (founded as NewCoin/OpenCoin in September 2012) builds products on the XRP Ledger and contributes to it
- **Foundation**: XRPL Foundation, an independent non-profit founded 24 September 2020; holds the XRP trademark
- **Governance**: Protocol changes are amendments; one activates after more than 80% validator support for two weeks
- **Open source**: Yes, xrpld is published under the ISC licence on GitHub (XRPLF/rippled)

## History

| Date | Event |
|---|---|
| 2011 | David Schwartz, Jed McCaleb and Arthur Britto begin developing the XRP Ledger as an alternative to mining-based Bitcoin. |
| June 2012 | The XRP Ledger launches with 100 billion XRP. |
| September 2012 | The founders and Chris Larsen start the company NewCoin, later OpenCoin and now Ripple, and give it 80 billion XRP. |
| 2017 | Ripple places 55 billion XRP in escrow so that the amount entering supply grows predictably. |
| 24 September 2020 | The XRPL Foundation is founded as an independent non-profit to support development and adoption of the ledger. |
| 2022 | The XRP trademark is reassigned to the XRP Ledger Trust (XRPL Foundation). |

## Security and audits

- Transaction costs rise with network load, making it expensive to overload the network with spam.
- If more than 20% (but less than 80%) of a server's trusted validators are faulty, the network stops making progress rather than confirming invalid transactions.

## Risks and caveats

- A single company, Ripple, received 80% of all XRP at launch and holds a large share in escrows it controls.
- Each server relies on a list of trusted validators; if more than 20% of them fail, the ledger stops closing new versions.
- Passed amendments apply permanently; reversing one requires another amendment.

## Official links

- Website: [xrpl.org](https://xrpl.org)
- Docs: [xrpl.org/docs](https://xrpl.org/docs)
- Source code: [github.com/XRPLF/rippled](https://github.com/XRPLF/rippled)
- Block explorer: [livenet.xrpl.org](https://livenet.xrpl.org)
- Blog: [xrpl.org/blog](https://xrpl.org/blog)
- Foundation: [foundation.xrpl.org](https://foundation.xrpl.org)

## Questions and answers

**What is XRP?**

XRP is the native digital asset of the XRP Ledger, a public blockchain launched in June 2012 for payments. It pays transaction costs and can bridge currencies in cross-border payments.

**Who created XRP?**

David Schwartz, Jed McCaleb and Arthur Britto built the XRP Ledger in 2011–2012. Together with Chris Larsen they then started the company now called Ripple.

**What is the maximum supply of XRP?**

100 billion XRP were created at launch and no more can be created. Each transaction destroys a small amount, so the total slowly decreases.

**How does the XRP Ledger reach consensus?**

Validators trusted by each server agree on the next ledger version every 4–6 seconds. There is no mining or staking.

**Is XRP the same as Ripple?**

No. Ripple is a technology company that uses the XRP Ledger; XRP is the ledger's native asset, and the XRP trademark is held by the XRPL Foundation.

## Sources

- [CoinGecko — XRP](https://www.coingecko.com/en/coins/ripple)
- [XRPL.org — What is XRP?](https://xrpl.org/docs/introduction/what-is-xrp)
- [XRPL.org — XRP](https://xrpl.org/about/xrp)
- [XRPL.org — History](https://xrpl.org/about/history)
- [XRPL.org — What is the XRP Ledger?](https://xrpl.org/docs/introduction/what-is-the-xrp-ledger)
- [XRPL.org — Consensus protocol](https://xrpl.org/docs/concepts/consensus-protocol)
- [XRPL.org — Transaction cost](https://xrpl.org/docs/concepts/transactions/transaction-cost)
- [XRPL.org — Amendments](https://xrpl.org/docs/concepts/networks-and-servers/amendments)
- [XRPL.org — Currency formats](https://xrpl.org/docs/references/protocol/data-types/currency-formats)
- [XRPLF/rippled — README](https://github.com/XRPLF/rippled)

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Page updated: 2026-10-29

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Source: https://revain.org/projects/ripple/