The XRP Ledger was designed to be fundamentally different from Proof-of-Work (PoW)-based blockchains, like Bitcoin. Instead, it uses a unique consensus protocol known as Proof-of-Association (PoA), which requires nodes to create their own lists of trusted nodes, on which they rely for achieving blockchain consensus. 

During the consensus process, designated servers called validators come to an agreement on the order and outcome of XRP transactions about every 3 to 5 seconds. Eighty percent of the validators have to agree to achieve consensus and include blocks on the XRP Ledger mainnet. Anyone can become a validator or create their own list of validators. Ripple, the XRP Ledger Foundation, and others maintain a list of trusted validators known as Unique Node Lists (UNLs).

Ripple, which uses XRP to power its crypto solutions business, has the stated aim of increasing the speed and reducing the cost of cross-border transactions and remittances, with XRP serving as a bridge currency for financial institutions exchanging value between multiple fiat currencies. Ripple is also one of the key XRPL contributors.