The solotoken is running on the XRP-Ledger and is Fully decentralized.
The XRP Ledger use a consensus protocol and is fully decentralized.
The consensus mechanism is made of XRP-ledger Validators that have to agree on order and outcome of XRP transactions.
The agreements happens every 3-5 seconds and can be monitored at https://livenet.xrpl.org/.
Currently (2022 december) there are 35 Validators in control (so called UNL Validators), and about 120 other validators up and running. The validators in control are the important ones, the rest are people and entities "proving themselves".
The validators in control (the UNL Validators) will eventually add other validators that they trust to their local UNL list, and once 80% of the UNL Validators have added the same validator, that validator will be become an UNL validator.
With this structure, the xrpledger will get more and more decentralized as time passes by.
The UNL validators are spread all cross the globe, one is even located in a former Swedish Nuclear bunker (The Towo Labs validator) and is highly secure. All validators can be seen here: https://livenet.xrpl.org/network/validators.
Sologenic is an interface communicating with the xrpledger. XRP-Ledger itself is a decentralized exchange, it's the first DEX ever made. Calling sologenic a DEX is a bit lazy, but still accurate.
Sending solo to an other wallet will cost the regular xrpledger fee, which currently in year 2023 is below 0.01$, it will most likely Never be above that sum as transaction fees are only in place to stop spammers. The reason why the fee won't increase is because the xrpledger can handle 1500+ transactions per second. On top of the xrpledger fee, a solo transaction has a 0.01% burn rate. The burn rate helps deflation of the token, which could increase the value long term. It also helps against obfuscation attempts.
The XRP Ledger use a consensus protocol and is fully decentralized.
The consensus mechanism is made of XRP-ledger Validators that have to agree on order and outcome of XRP transactions.
The agreements happens every 3-5 seconds and can be monitored at https://livenet.xrpl.org/.
Currently (2022 december) there are 35 Validators in control (so called UNL Validators), and about 120 other validators up and running. The validators in control are the important ones, the rest are people and entities "proving themselves".
The validators in control (the UNL Validators) will eventually add other validators that they trust to their local UNL list, and once 80% of the UNL Validators have added the same validator, that validator will be become an UNL validator.
With this structure, the xrpledger will get more and more decentralized as time passes by.
The UNL validators are spread all cross the globe, one is even located in a former Swedish Nuclear bunker (The Towo Labs validator) and is highly secure. All validators can be seen here: https://livenet.xrpl.org/network/validators.
You can easily trade XRP for USD and EUR straight at the XRPLedger. USD/EUR issued by Gatehub is currently recommended because they have the best trading liquidity.
Gatehub allows you to withdraw your funds straight to your bank account.
The current minimum transaction cost required by the network for a standard transaction is 0.00001 XRP (2023-07). It sometimes increases due to higher than usual load.
You can use a variety of file formats for images, videos, audio or even 3D models to make your NFT.
For the collection image, we recommend an image of at least 400 x 400 (Maximum size, 5 MB).
For the collection Background, we recommend an image of at least 400 x 400 (Maximum size 5 MB).
Supported type files types: JPG, JPEG, PNG, GIF, SVG, WebP, MP4, MP3, WAV, OGG (Max size 50 MB).