Quicknode

June 30, 2023 — 5 min read

XRP Ledger is now live on the Quicknode platform!

We’re thrilled to announce the addition of the XRP Ledger (XRPL) as Quicknode’s 23rd-supported blockchain protocol. By adding the XRPL to our ecosystem, Quicknode will help developers on the XRPL build their business and move web3 closer toward mass adoption with reliable blockchain solutions.

The XRPL is especially beneficial for developers who want to build businesses. With protocol capabilities honed over the last decade to enable scalable blockchain development, developers can build innovative projects and applications across use cases including payments, tokenization, DeFi, and more.

Quicknode’s XRPL infrastructure is now available to everyone on our platform. Get started on the XRP Ledger instantly!

The Main Benefits of XRPL Are:

• Proven Reliability: Supports large scale use cases and long term projects with 2.6B+ successful transactions without failure or security breach since 2012.

• Ready To Go: Access complete blockchain functionality, from tokenizing assets to advanced payments, without needing to learn, build, and maintain complex smart contracts.

• Fast, Cheap, Green: Carbon neutral blockchain settling transactions every 3-5 seconds at fractions of a cent per transaction for mass market adoption.

• Mass Adoption: 4.5M+ XRP wallet holders around the world and XRP market capitalization of ~$25B - making XRP one of the largest and most adopted cryptocurrencies.
  

Use Cases for XRPL

The XRP Ledger provides developers with powerful utility and flexibility, where they can code in Python, Java, and JavaScript languages. The XRPL is suitable for any independent developer or enterprise that wants to build for a variety of use cases.

भुगतान

Using the XRP Ledger, assets can be moved across the world, enabling instant money transfers for remittances, treasury payments, payrolls, and other cross-border payments. For instance, RippleNet powers cross-border payments through a decentralized network of banks and payment providers that uses the XRP Ledger. Users can also set up an XRP wallet like Xumm to transact XRP, a neutral bridge asset optimized for global payments with low fees.

Tokenization

Any kind of asset can be tokenized on the XRP Ledger, including real world assets, stablecoins, NFTs, and Central Bank Digital Currencies (CBDCs).

DeFi

Financial products and services can be accessed via the XRPL’s decentralized exchange (DEX). The protocol native DEX is a key feature that powers trading and settlement of tokenized assets without intermediaries. Because liquidity is consolidated in a single DEX, this leads to the best prices, deeper liquidity, and ease of use for developers.

An amendment to add a protocol native automated market maker (AMM) is anticipated to be proposed to the XRPL. If implemented, the AMM will bring additional swapping, trading, and liquidity provision features to the XRPL, and it will integrate with the order book DEX. It is designed to reduce impermanent loss for liquidity providers by introducing a novel auction mechanism that incentivizes arbitrageurs to bid for price discrepancies.

CBDCs

The XRP Ledger supports the tokenization of CBDCs. With this feature, central banks can sustainably and securely interoperate with other payment systems.

स्टेबलकॉइन्स

Financial institutions can issue stablecoins on the XRP Ledger.

How the XRP Ledger Works

The XRPL uses a Proof-of-Association (PoA) consensus algorithm in which designated servers called validators come to an agreement on the order and outcome of XRP transactions every 3-5 seconds.

All servers in the network process each transaction according to the same rules, and any transaction that follows the protocol is confirmed right away. All transactions are public, with strong cryptography to guarantee the integrity of the system.

Anyone can operate a validator; currently, over 100 validators are active on the ledger, operated by universities, exchanges, businesses, and individuals. Additionally, the consensus protocol ensures the blockchain becomes more decentralized over time as the validator pool grows.

The cryptocurrency native to the XRP Ledger is XRP, a neutral bridge asset that is optimized for transactions. XRP functions as a medium of exchange to facilitate transactions quickly, cheaply, and sustainably. It can also be used to transact on XRP Ledger’s decentralized exchange (DEX) or engage with tokenized assets.

क्यों Quicknode ?

Quicknode इससे ब्लॉकचेन इंफ्रास्ट्रक्चर को सरल बनाया जा सकता है, जिससे डेवलपर्स को ब्लॉकचेन इंफ्रास्ट्रक्चर को चलाने में लगने वाली हर चीज, जैसे कि डेवऑप्स/नोडऑप्स, अपटाइम, स्केलिंग, सुरक्षा, टूलिंग आदि के बजाय अपने द्वारा बनाए जा रहे डीऐप्स (विकेंद्रीकृत अनुप्रयोगों) पर ध्यान केंद्रित करने की आजादी मिलती है।

नोड रखरखाव और सिंक्रोनाइज़ेशन की झंझट को खत्म करके और एक व्यापक, एंड-टू-एंड प्लेटफॉर्म प्रदान करके, हम डेवलपर्स का बहुमूल्य समय बचाते हैं जिससे वे उच्च गुणवत्ता वाले dApp को तेजी से बाजार में ला सकें, और व्यवसायों को उनकी Web3 रणनीतियों को बढ़ाने और लागू करने में मदद कर सकें।

Quicknode is an indispensable tool in a Web3 developers’ arsenal that was created by developers for developers, battle-tested by industry-leading projects.

Today, the Quicknode network processes over 200 Billion requests per month across 14+ regions worldwide.‌‌

अधिक जानकारी के लिए Quicknode पर जाएं या हमारे गाइड सेक्शन को देखें।

To learn more about the XRP Ledger and its capabilities, visit the following resources:

• Quicknode XRP Ledger Documentation

• XRPL Documentation

• XRPL GitHub

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• XRPL Learning Portal

• XRPL Discord