What is the XRP Ledger?
The XRP Ledger is a decentralized public ledger that records all XRP account transactions. It functions as a real-time database of:
- XRP wallet balances
- Account settings
- Transaction history
A new ledger version is created every 3 seconds via consensus, enabling near-instant transaction settlement.
What is an XRP Wallet?
An XRP wallet (also called a Ripple address or XRP account) is a unique public identifier on the XRP Ledger. Key features:
- Permanence: Once created, the account exists indefinitely.
- Control: Ownership is determined by whoever holds the secret key.
- Security: Gateways like GateHub cannot access or recover lost keys.
👉 Learn how to secure your XRP wallet
Key Components of the XRP Ecosystem
1. XRP Ledger Clients
Clients are software interfaces for interacting with the ledger. Examples:
- GateHub (web-based)
- Other desktop/web clients with varied UIs
2. Gateways
Gateways bridge traditional finance and the XRP Ledger. They:
- Issue currencies (e.g., GateHub USD)
- May fund wallets (optional)
- Charge transfer fees for issued currencies
3. XRP Reserve
- Minimum Balance: 20 XRP per active wallet (anti-spam measure).
- Locked Funds: Reserved XRP cannot be withdrawn or accessed by gateways.
Costs and Fees
| Fee Type | Description | Amount |
|------------------------|---------------------------------------------|-----------------|
| XRP Reserve | One-time wallet activation | 20 XRP (locked) |
| Transaction Cost | Network fee (destroyed, not collected) | ~0.00001 XRP |
| Trustline Reserve | Per issued currency (releasable if unused) | 5 XRP |
Issued Currencies & Trustlines
- Issued Currencies: Gateways create tradable assets (e.g., GateHub Fifth BTC).
- Trustlines: Required to hold non-XRP currencies; reserve applies until disabled.
FAQs
Q: Can I recover lost XRP reserve funds?
A: No, reserved XRP is permanently locked.
Q: Who pays for wallet activation?
A: Typically the wallet creator, but gateways may fund accounts as a courtesy.
Q: Are transaction fees adjustable?
A: Yes, validators dynamically set fees based on network load.
👉 Explore advanced XRP Ledger features
Summary
The XRP Ledger combines speed, low costs, and gateway flexibility. Understanding reserves, trustlines, and gateway roles ensures optimal use of this decentralized network.
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