In a significant move to further diversify its supported blockchain networks, Gemini, the renowned cryptocurrency exchange founded by Tyler and Cameron Winklevoss, has proudly announced the integration of XRP Ledger (XRP) onto its trading platform. This addition marks another milestone for the exchange’s mission to facilitate increased financial freedom and innovation.
The official blog post released by Gemini revealed the exciting news, stating, “We are delighted to announce support for XRP Ledger (XRP), adding a new blockchain to Gemini’s growing list of supported networks!”
This new inclusion allows platform users to trade XRP on various applications, including API/FIX and ActiveTrader applications for USD trading pairs. Additionally, XRP can be traded on the Gemini Mobile App and website, with trading pairs spanning USD, GBP, EUR, CAD, SGD, HKD, and AUD.
One distinct feature that sets XRP Ledger apart from traditional Proof-of-Work (PoW) blockchains like Bitcoin is its innovative consensus protocol. Known as the Ripple Protocol Consensus Algorithm (RPCA), this mechanism relies on most validators to record and authenticate transactions on the ledger.
A select group of trusted nodes upholds the integrity of the XRP Ledger. To achieve consensus and be recorded on the ledger, transactions require approval from a supermajority of these nodes. While anyone can participate as a validator, Ripple curates a roster of trusted validators referred to as the Unique Node List (UNL).
Gemini’s Expanded Compatibility: 13 Supported Networks
The addition of XRP Ledger expands Gemini’s compatibility to a grand total of 13 blockchain networks. This comprehensive roster includes popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), as well as Solana (SOL), Litecoin (LTC), Bitcoin Cash (BCH), Polkadot (DOT), Avalanche (AVAX), Cosmos (ATOM), Zcash (ZEC), Filecoin (FIL), Dogecoin (DOGE), and Tezos (XTZ).
The Winklevoss twins, founders of Gemini, expressed their excitement for adopting the XRP Ledger. They emphasized their dedication to promoting innovation and empowering individuals in the financial world.
The exchange strategic expansion aims to make it easier for users to access a wide range of blockchain networks in the evolving cryptocurrency landscape. This effort is crucial in driving the global adoption of digital assets and ensuring seamless experiences for Gemini’s users.
However, Gemini’s latest move highlights their commitment to providing users with a wide range of options. It also emphasizes the growing importance of XRP Ledger in both blockchain technology and cryptocurrency trading.
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