Quiz: XRPL Basics 4 questions · 80% to pass 1. The XRP Ledger achieves consensus through:Proof of Work mining like BitcoinA Federated Byzantine Agreement where trusted validator nodes agree on transaction orderProof of Stake delegationA single central serverXRPL uses a Federated Consensus Protocol where each node maintains a Unique Node List (UNL) of trusted validators. Consensus is reached when a supermajority (80%+) of validators agree, enabling 3-5 second settlement without energy-intensive mining.2. XRPL's native decentralized exchange (DEX) allows users to:Only trade XRP for USDTrade any issued token directly on-ledger without a centralized intermediaryMine new tokensBorrow against their holdingsXRPL has a built-in order book DEX at the protocol level. Any token issued on XRPL can be traded against any other token directly on the ledger. This eliminates the need for centralized exchanges or wrapped assets for on-ledger trading.3. XRPL transaction settlement typically takes:10 minutes like Bitcoin3-5 seconds with finality (no risk of reversal)1-2 days like bank wire transfers30 minutes on averageXRPL achieves consensus and final settlement in 3-5 seconds. Unlike Bitcoin (where transactions can theoretically be reversed for up to an hour), XRPL transactions are final once confirmed. There is no probabilistic finality, just deterministic settlement.4. Transaction costs on XRPL are typically:$5-50 depending on network congestionFractions of a cent (0.00001 XRP base fee), designed to prevent spam rather than generate revenueFree with no fees at allA percentage of the transaction valueXRPL's base transaction fee is 0.00001 XRP (a fraction of a cent). Fees exist to prevent network spam, not to compensate validators. The fee is destroyed (burned), making XRP slightly deflationary over time. Check answers Retake quiz Back to lesson Next lesson →