🛠️ Origins and Creation
2004: A Canadian developer named Ryan Fugger created a peer-to-peer payment system called RipplePay. This concept later evolved into what we know today as XRP.
2011–2012: Developers Jed McCaleb, David Schwartz, and Arthur Britto began working on a better version of Bitcoin that didn’t require mining. They created the XRP Ledger (XRPL).
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🚀 Launch and Early Development
June 2012: The first version of the XRP Ledger went live. It introduced its native cryptocurrency called XRP (originally called “ripples”).
September 2012: Jed McCaleb and Chris Larsen founded a company called OpenCoin, which later became Ripple Labs, and now simply Ripple.
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💰 XRP Distribution
A total of 100 billion XRP were created at launch (pre-mined).
80 billion XRP were allocated to the company (Ripple).
20 billion XRP were distributed among the founders.
Ripple locked 55 billion XRP in an escrow account to release a controlled amount monthly, ensuring market stability.
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🏢 Company Evolution
2013: OpenCoin raised $2.5 million in angel funding.
Later in 2013, the company changed its name to Ripple Labs, Inc.
In 2015, the name was shortened to just Ripple.
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📌 Timeline Summary
Year / Date Event
2004 RipplePay founded by Ryan Fugger
2011–2012 XRP Ledger created by McCaleb, Schwartz, and Britto
June 2012 XRP Ledger officially launched
Sep 2012 OpenCoin (Ripple) founded
2013–2015 Name changed to Ripple Labs → Ripple
Now XRP used globally in financial transactions and payments
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📚 Quick Facts
Symbol: XRP
Max Supply: 100 Billion (pre-mined)
Launch Year: 2012
Blockchain: XRP Ledger (XRPL)
Created By: Jed McCaleb, David Schwartz, Arthur Britto
Managed By: Ripple Labs (now Ripple)
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💡 Purpose of XRP
XRP was designed to be a fast, energy-efficient, and scalable alternative to Bitcoin. Its main use case is to help financial institutions transfer money globally in seconds, with very low fees.
Stay tuned
