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Today XRP turned 10 years old!
Congratulations to the XRP Community – the most cohesive in the crypto space!
Here’s how it all started
We should start with 2004, when Canadian Ryan Fugerr developed a prototype. RippleNet. His system was called RipplePay and was a new way to make online payments over the Internet. Therefore, we can say that RippleNet is older than Bitcoin. The creator of bitcoin, who is known to the world as Satoshi Nakamoto, began, according to him, to develop it in 2007, and presented it to the world in 2008.
The technology draws the attention of Jed McCaleb – the creator of the then popular file-sharing network eDonkey and the infamous exchange Mt.Gox. In 2011, three engineers — David Schwartz, Jed McCaleb, and Arthur Britto — began developing the XRP Ledger (originally called “Ripple” due to the nature of the technology).
Fascinated by bitcoin, they set out to create a better version that would improve its limitations – with the goal of creating a more sustainable digital asset created specifically for payments.
On June 2, 2012, Ripple Labs co-founder Arthur Britto unveiled lines of code from which 100 billion XRP tokens were later created. According to Ripple CTO David Schwartz, this date is considered the official birthday of the XRP cryptocurrency.
So, XRP Ledger was first launched in June 2012. They were soon joined by Chris Larsen, and in September 2012 the group founded OpenCoin (now called Ripple).
The founders of XRP Ledger gave the company 80 billion XRP, while its founders (Britto, Chris Larsen and Jed McCaleb) in total received 20 billion tokens. Since then, Ripple has sold some of its XRP and placed the rest on escrow.
Alas, the history of the early days of XRP Ledger was erased due to a critical error. Instead of a genesis block, it can only be traced back to block 32,570, which began in December 2012.
Over its 9-year history, XRP has gone through a number of ups and downs. It soared more than 31,292%, becoming the favorite coin of the 2017 bull rally and eventually peaking at an all-time high of $3.31 on January 4, 2018.
The usual logo for XRP was chosen only in May 2018.
|XRP «X» Logo|
The smallest indivisible unit , one millionth of XRP – was called “drop” (“drop”), and before that it was called “jed” (jed”) in honor of Jed McCaleb.
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