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Author: Admin | 2025-04-28
XRP uses a unique Consensus<!-- wp:paragraph -->The consensus is a process used to achieve agreement on a single data value among distributed processes or systems. Common consensus mechanisms in blockchain. include Proof of Work (PoW) and Proof of Stake (PoS).<br/><!-- /wp:paragraph -->" href="https://blockzeit.com/glossary/consensus/" target="_blank" data-gt-translate-attributes="[{"attribute":"data-cmtooltip", "format":"html"}]" tabindex="0" role="link">consensus protocol called XRP Ledger Protocol Consensus Algorithm.Setting up an XRPL Node<!-- wp:paragraph -->A node is a computer connected to the blockchain network that supports the network through validation and relaying of transactions.<br/><!-- /wp:paragraph -->" href="https://blockzeit.com/glossary/node/" target="_blank" data-gt-translate-attributes="[{"attribute":"data-cmtooltip", "format":"html"}]" tabindex="0" role="link">node to become a validator is the easiest way to earn XRP.Ripple was established in 2012 by Chris Larsen, David Schwartz, Author Britto, and Jed McCaleb in 2012XRP mining is a hot topic in the crypto space, as many users are eager to get their hands on as much of this asset as possible before it skyrockets. Currently, the XRP price sits at $0.5624, down 13.4% over the last 30 days. However, this shouldn’t be discouraging since it’s still early to acquire XRP. Over the past two years, XRP has mostly fluctuated between $0.30 and $0.75, so if you had invested $10,000 in May 2022, you’d still have $10,000 today. With XRP fundamentals gaining traction, adding more coins to your Bag<!-- wp:paragraph -->Crypto slang for holding a quantity of a cryptocurrency. "I am holding a bag of ADA".<br/><!-- /wp:paragraph -->" href="https://blockzeit.com/glossary/bag/" target="_blank" data-gt-translate-attributes="[{"attribute":"data-cmtooltip", "format":"html"}]" tabindex="0" role="link">bag is the best way to position yourself. This guide will show you how to mine XRP.What is XRP, and Is XRP Mining Possible?XRP is a digital asset that facilitates instant, low-cost international transfers. Ripple Labs Inc. created XRP as the native currency of the XRP Ledger, a decentralized public blockchain built specifically for businesses.The blockchain FinTech company was established in 2012 by Chris Larsen, David Schwartz, Author Britto, and Jed McCaleb. However, you might be more familiar with Brad Garlinghouse, the current CEO of Ripple Labs, who has become the face of XRP on X (formerly Twitter). XRP hit the market at less than a cent at launch and, shortly after, rose to the top 10. The crypto asset has remained among the top 10 largest cryptocurrencies by market cap for over five years while battling FUD<!-- wp:paragraph -->FUD is an abbreviation for Fear, Uncertainty and Doubt. <br/><!-- /wp:paragraph -->" href="https://blockzeit.com/glossary/fud/" target="_blank" data-gt-translate-attributes="[{"attribute":"data-cmtooltip", "format":"html"}]" tabindex="0" role="link">FUD from critics and a lawsuit against the U.S Securities and Exchanges Commission (SEC). Can You Mine XRP?The short answer to ‘Can you mine XRP?’ is No. XRP is not like your average cryptocurrency, and therefore, it cannot be mined conventionally. Unlike many other crypto assets, physical mining doesn’t work in XRP because its native consensus algorithm is fundamentally different. It is neither Proof-of-Work (PoW) nor pure Proof-of-Stake (PoS), but is a lesser-known alternative among cryptocurrencies called the Ripple Protocol Consensus Algorithm (RPCA).Hence, ‘mining’ in the XRP Ledger may be defined as any working method to acquire XRP coins aside from purchasing them directly from an exchange.Why Can XRP Not Be Mined?As
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