Ripple is the company behind the cryptocurrency XRP. Ripple created XRP as a decentralized cryptocurrency native to the RippleNet payment platform. RippleNet was created in 2012 by Ripple to offer banks and financial institutions a real-time settlement system that allows for secure, instant financial transactions that can span the globe.
What is ripple network?
Ripple is a privately-held fintech company that provides a global payment solution via its patented payment network called Ripple Network (also known as RippleNet). RippleNet is a payment network that is built on top of Ripple’s consensus ledger, called XRP Ledger (also known as XRPL). Ripple funded the development of the open-source XRP Ledger.
Why did ripple re-distribute XRP?
Ripple did that to improve the transparency and predictability of XRP sales. XRP held in escrow are “undistributed” whereas the rest (including XRP held by Ripple in wallets) is distributed (i.e. circulating supply). At the end of each month, unsold tokens are returned to escrow and re-distributed at a later period.
