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A cryptocurrency is gaining a ton of support — here’s what to know about XRP.
Several major crypto and finance companies, including the newly created Evernorth Holdings Inc. and the special purpose acquisition company Armada Acquisition Corp. II, are teaming up to support a digital asset, according to The Block.
XRP was created by the founders of Ripple Labs in 2012. It was designed for fast, inexpensive cross-border payments and has skyrocketed in popularity over the past decade. Unlike many other cryptocurrencies, like bitcoin and ethereum, XRP uses a unique consensus protocol that forgoes competitive mining or staking. It uses server validators to confirm transactions, which is more energy-efficient.
“Evernorth…
