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The education arm of the world’s largest crypto exchange (by trading volume) has a lot of nice things to say about decentralized public blockchain XRPL Ledger (XRPL) and its native token XRP.
The XRP Ledger was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto.
On 27 February 2020, during an episode of “The Ripple Drop” (Ripple’s web video series), Ripple CTO David Schwartz spoke with with producer/editor Reinhard Cate about the evolution of the XRP Ledger.
Cate started the interview by asking Schwartz how the XRP Ledger started and what its current status is.
Schwartz replied:
“Well, I started working on what we now call the XRP Ledger at the end of 2011; so I’ve been at this for eight [or] nine years… but the changes have been drastic. I mean in the early days all we had was the ability to perform a transaction on a decentralized ledger in just a couple of seconds, and then we started to realize that the properties of the algorithms that we developed allowed us to do things like a decentralized exchange.
“And then we had this idea of allowing people to issue assets and ideas like community credit, and we put all that together into a functional system probably in mid 2012.”
Binance Academy, which was officially launched on 11 December 2018, is the educational arm of Binance. Here is how Binance introduced it back then:
“Binance Academy is a nonprofit blockchain education portal that offers quality, easy-to-understand content for cryptocurrency users and enthusiasts worldwide. Since the Academy’s limited beta launch in August, four months ago, users have spent more than 14,000 hours on the platform; equivalent to 10,000 minutes of content consumed per day, and 583 days of educational material delivered overall.“
Ted Lin, Chief Growth Officer at Binance, had this to say:
“Education is the integral pillar to proliferating crypto and blockchain usage. With adoption still at its infancy, the world needs a consolidated, easy-to-use, and reliable source of knowledge to advance the understanding of cryptocurrency and distributed ledger technologies. With Binance Academy, our goal is to provide an entirely neutral platform with quality, unbiased, educational information. Users can learn about everything to do with Blockchain, Security, and Economics, in addition to useful tutorials and guides, in their preferred languages.“
Well, earlier today, Binance Adacemy released a video about XRP — titled “What Is XRP Ledger (XRPL)?｜ Explained for Beginners” — on its YouTube channel .
Here are a few things that this video points out about XRPL and XRP:
- “XRPL is a decentralised public blockchain built with the purpose to enable a world where tokenized value is exchanged as quickly as information. The XRPL is stable, scalable, fast, and energy-efficient. It has continuously confirmed transactions since its deployment in 2012 while supporting more than 1500 transactions per second and transaction speeds of three to five seconds.“
- “Transactions are cheap. The average transaction cost on the XRPL is less than a fraction of a penny.“
- “The XRPL is friendly to our planet. It is the first major blockchain to be certifiably carbon-neutral.“
- “The network uses a federated consensus protocol to confirm transactions in which designated independent servers known as validators must come to an agreement on the order and outcome of XRP transactions. All verified transactions are processed without a single point of failure as no single participant can decide which transactions take priority.“
- “The cryptocurrency native to the XRP Ledger is XRP, a neutral bridge asset that is optimised for payments anywhere. With billions of XRP traded daily, XRP functions as a medium of exchange to facilitate cross-border payments quickly, cheaply, and sustainably. It can also be used to transact on XRP Ledger’s decentralised exchange (DEX) or engage with tokenized assets.“
- “The main applications of the XRP Ledger are payments. Using the XRP Ledger, assets can be moved across the world, enabling near instant money transfers for remittances, treasury payments, payrolls, and other cross-border payments.“