RIPPLE HISTORY AND WHITE PAPER DOWNLOAD

RIPPLE WHITE PAPER PDF

Ripple (XRP) is both a digital payment protocol and a cryptocurrency that was created by Ripple Labs, a company founded in 2012 by Chris Larsen and Jed McCaleb. The primary aim of Ripple was to create a more efficient and scalable way for banks and financial institutions to transfer money globally, overcoming the limitations of traditional payment systems.

Ripple’s consensus algorithm differs from Bitcoin’s proof-of-work, as it uses the RippleNet network of trusted validators to confirm transactions, making it faster and more energy-efficient. Unlike most cryptocurrencies, XRP isn’t mined but is pre-mined, with a total supply capped at 100 billion coins.

Ripple gained attention as a faster, cheaper alternative to traditional cross-border payment systems, such as SWIFT, and has partnered with several large financial institutions and payment providers to integrate XRP into their systems.

In 2020, Ripple faced a significant legal challenge from the U.S. Securities and Exchange Commission (SEC), which alleged that Ripple had conducted an unregistered securities offering by selling XRP. This lawsuit has affected XRP’s market value and its listing on various exchanges, with ongoing legal proceedings.

Despite these challenges, Ripple remains a prominent player in the blockchain and cryptocurrency space, particularly in the realm of remittances and enterprise solutions.