Читать книгу Cryptocurrency All-in-One For Dummies - Peter Kent, Kiana Danial - Страница 79

Some Ripple background

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The idea of Ripple actually goes all the way back to 2004. That’s way before Satoshi and Bitcoin. In 2004, Ryan Fugger founded a company called RipplePay. According to https://blog.bitmex.com/the-ripple-story/, the idea behind the protocol was a “peer-to-peer trust network of financial relations that would replace banks.”

By 2011, Ripple’s target demographic started paying attention to Bitcoin, which was just becoming popular and was doing a better job as a peer-to-peer payment network than Ripple. Ripple’s architecture started to shift when an early Bitcoin pioneer, Jed McCaleb, joined the Ripple network in May 2011. Others joined the Ripple bandwagon as time went by.

Finally, Ripple’s XRP, a cryptocurrency that also acts as a digital payment network for financial institutions, was released in 2012, according to their website, https://ripple.com/xrp/. Like many other cryptocurrencies, XRP is based on a public chain of cryptographic signatures. That being said, Ripple is very different from traditional cryptos like Bitcoin and even Ethereum.

Some people don’t consider Ripple a true cryptocurrency. Also, Ripple as a company and Ripple the cryptocurrency are two different things, although they’re connected. Ripple the coin, which trades as XRP, is the cryptocurrency used with some of the company’s payment systems. Ripple the company does business as Ripple Labs, Inc., and provides global payment solutions for big banks and such using blockchain technology.

Cryptocurrency All-in-One For Dummies

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