XRP: As a digital asset native to the Ripple network, XRP occupies a unique position in the cryptocurrency landscape. Unlike Bitcoin and Ethereum, XRP does not rely on proof-of-work (PoW) or proof-of-stake (PoS) for validation but employs a consensus algorithm called the XRP Ledger Protocol Consensus Algorithm. <br><br>XRP primarily aims to facilitate fast and cost-effective cross-border transactions and remittances, positioning itself as a bridge between different fiat currencies and facilitating frictionless global payments. Ripple's partnerships with financial institutions have further solidified XRP's reputation as a promising solution for the legacy financial system's inefficiencies.