Ripple update: How I See The Genius That Is Ripple
So, let me get this straight…
In 2004, Ryan Fugger got this idea of creating a global decentralized monetary system that could allow individuals/communities to create their own money. This led to the creation of RipplePay.com (2005).
– This was even before the release of the legendary Bitcoin whitepaper by Satoshi Nakamoto, which was in 2008.
Fast forwarding to 2011 : Jed McCaleb, Arthur Britto and David Schwartz get together, foresees the problems Bitcoin is going to face in the future (i.e. now), and starts developing a digital currency (XRP) which is faster, cheaper and more energy efficient than Bitcoin.
2012 : Chris Larsen joins the team. They approach Ryan Fugger, after long discussions, who handed over the reins. Thus, OpenCoin was founded.
2013 : OpenCoin becomes Ripple Labs.
2014 : Ripple, seeing the massive potential of blockchain technology, proposed Codius. Codius is a project to develop a new smart contract system. Ripple sort of benched Codius to focus on international remittances.
– Ethereum was proposed late 2013 and went live in 2015.
Ripple’s vision of “not one, but many blockchains” led to the creation of the Interledger Protocol which lets different blockchains and networks interoperate.
2018 : CODIUS IS BACK!
Stefan Thomas (inventor of the Interledger Protocol) steps down as CTO of Ripple and launches his project Coil, which aims to allow micropayments for content management. It will be using Interledger Protocol, and carry XRP tokens for monetization.
My point is :
Ripple is building a completely game changing ecosystem. How ?
Well, they took on the top 2 cryptocurrencies….
[- Bitcoin focussed on being a global currency. But XRP can, right now, do everything Bitcoin can wayyy better.
– Ethereum focussed on smart contracts. Codius is back ! Let’s see where that goes.]
….and at the same time, they are on the cusp of ANNIHILATING, oh well, the biggest payment network in the world (SWIFT).
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
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