XRP
XRP settles in about four seconds. Its ledger is closed by agreement between validators rather than by mining. There is no block reward and no fee market: the cost of a transfer is a fixed, tiny amount destroyed rather than paid to anyone. It is the fastest and cheapest thing to move on this list.
- Fee paid in
- XRP
- Settles about every
- 4 s
The wallet quotes one amount with that cost inside it. Speed here is real: a transfer that has settled has settled, with no waiting for further confirmations.
Questions
How long does an XRP transfer take?
About four seconds to settle. A cross-chain move waits on the other chain too, so the wallet quotes the estimate for the pair.
Who receives the fee?
Nobody. The amount is destroyed, which is how the ledger discourages spam without paying miners.
Does it need a destination tag?
There is no tag field here, so send only to an address that does not require one. An exchange deposit that asks for a tag needs a different route.