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what network does coinbase use for xrp
Coinbase leverages the Ripple Consensus Ledger for its XRP transactions, enabling fast, scalable, and low-fee transactions via a decentralized network of validator nodes.
Nov 02, 2024 at 07:08 pm

Network used by Coinbase for XRP
- Ripple Consensus Ledger (RCL)
Coinbase primarily uses the Ripple Consensus Ledger (RCL) for XRP transactions. Here's an overview of RCL:
- Consensus Mechanism: RCL employs a unique consensus protocol called the XRP Ledger Consensus Protocol (XLCP). This protocol uses a decentralized network of validator nodes to verify and validate transactions in a secure and efficient manner.
- Transaction Speed: The RCL is optimized for fast and scalable transactions. XRP transactions typically settle in a matter of seconds, making it a suitable option for real-time payments and other time-sensitive applications.
- Fees: XRP transactions are subject to minimal transaction fees, which are typically a fraction of a penny. This makes it an attractive option for small-value transactions.
- Fidelity Digital Assets (FDA)
In addition to the native RCL, Coinbase also utilizes the services of Fidelity Digital Assets (FDA) for custody and execution of XRP transactions. FDA provides a secure and compliant platform for Coinbase to manage its XRP holdings and facilitate trades.
Here's a summary of network usage by Coinbase for XRP:
Network | Purpose |
---|---|
Ripple Consensus Ledger (RCL) | Primary transaction network; provides speed, efficiency, and low fees |
Fidelity Digital Assets (FDA) | Custody and execution services; ensures security and compliance |
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