Binance-Peg XRP Tokens are wrapped and pegged by Binance on a 1:1 ratio to the native XRP ecosystem (Ripplenet) that are supported by BEP20 token deposits and withdrawals at Binance Smart Chain. The Ripple website proclaims “XRP is a digital asset built for payments. It is the native digital asset on the XRP Ledger—an open-source, permissionless and decentralized blockchain technology that can settle transactions in 3-5 seconds.”
XRP is the native cryptocurrency of products developed by Ripple Labs Inc which is a cryptocurrency payment system. XRP is its "digital asset built for global payments.” XRP would allow users to send money at an exceptionally low cost, attracting the potential interest of retail and banking customers. A crucial value proposal of Ripple is its minimal transaction costs while offering transaction finality between three to five seconds.
XRP principles include speed of transactions, low cost transactions, scalability, stability, sustainability, and distribution. Transaction speeds are once again under five seconds. The average cost of each transaction is $0.0002, while being able to oversee 1,500 transactions per second. Stable since 2012 with over 70 million closed ledgers. The XRP Ledger is 61,000x more energy-efficient than proof-of-work blockchains with a decentralized ledger run by a global network of 150+ validators.
