What is the process of mining XRP?

3 answers

• May 12, 2022 · 3 years ago
  Mining XRP is not possible as it is a pre-mined cryptocurrency. Unlike Bitcoin and other cryptocurrencies, XRP was created with all the coins already in existence. This means that there is no need for mining to secure the network or create new coins. XRP's supply is controlled by Ripple, the company behind XRP, and they periodically release a portion of the coins into circulation.
  383

  192
• May 12, 2022 · 3 years ago
  XRP is not mined like Bitcoin. It was created differently, with all the coins already in existence. This is known as pre-mining. The supply of XRP is controlled by Ripple, and they release a certain amount of coins periodically. So, there is no mining process involved in XRP.
  276

  92
• May 12, 2022 · 3 years ago
  XRP is a unique cryptocurrency that does not require mining. It was pre-mined, which means that all the coins were created at once. This is different from Bitcoin, where new coins are created through the mining process. XRP's supply is controlled by Ripple, and they release a small portion of the coins into circulation periodically. So, instead of mining, XRP relies on a different mechanism to secure its network and maintain its ledger.
  440

  110