opencoin

Ripple, the company behind XRP, was originally called OpenCoin (founded in 2012) and was later renamed Ripple Labs. However, the XRP Ledger technology that powers the XRP cryptocurrency was created even earlier, in 2004. It was initially developed as a decentralized system for financial transactions, but had nothing to do with cryptocurrencies.

One of the key developers of the XRP Ledger, David Schwartz, later became the chief technology officer of Ripple. Interestingly, he is also the author of cryptographic algorithms that are used in the security systems of Apple and Microsoft.

In addition, XRP is often called the “cryptocurrency for banks”, as Ripple actively cooperates with financial institutions around the world, offering solutions for instant and cheap international payments. However, this also causes controversy, as many in the crypto community believe that XRP is too centralized, which contradicts the original philosophy of decentralization of cryptocurrencies such as Bitcoin. $XRP
#Ripple #xrp #opencoin #RippleXRP

$XRP
*"Ripple CTO Sets the Record Straight: Uncovering the Truth Behind XRP's Distribution"*Currently, Ripple CTO David Schwartz has clarified the distribution of XRP, addressing speculation and providing transparency on the early days of Ripple and XRP. In the future, this clarification is expected to bring more confidence and stability to the XRP market, potentially shaping the future of the cryptocurrency.*Ripple CTO Clarifies XRP Distribution Amidst Speculation*

In a recent statement, David Schwartz, Chief Technology Officer (CTO) of Ripple, addressed speculation surrounding the distribution of XRP, the native cryptocurrency of the XRP Ledger (XRPL). Schwartz provided insight into the early days of Ripple and the XRPL, shedding light on the events leading up to the creation and distribution of XRP.

*The Birth of Ripple and XRP*

In 2011, Schwartz, along with Jed McCaleb and Arthur Britto, began developing the XRPL, a sustainable alternative to Bitcoin. By June 2012, the XRPL was complete, and 80% of the total XRP supply was gifted to a new company called NewCoin, later renamed OpenCoin and eventually Ripple. Chris Larsen joined the founding team in September 2012, and together they officially established Ripple.

*Addressing Speculation*

Schwartz acknowledged that the creators of the XRPL retained a significant portion of the value attributed to their work, but argued that this was not unfair. He also provided clarification on the timing of the XRP distribution plan, confirming that the agreement was made by September 17, 2012. Schwartz shared the signed agreement as proof and noted that the original "Genesis" wallet had almost no XRP from the start.

By addressing speculation and providing transparency on the early days of Ripple and XRP, Schwartz aims to set the record straight and provide clarity on the distribution of XRP.#Ripple #xrp #XRPL #opencoin

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