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Friday, September 30, 2022

How Ripple Got Started

Ripple actually dates back to 2004, It originated from a project called Ripple Project, which was created by this very smart Canadian engineer. Ryan Fuger. He wants to create a personal credit or cryptocurrency (IOU) Point-to-point exchange. In fact, there is always a debate about credit and currency, Almost everyone has their own currency and credit.

They are closely related. It is a very simple system, a non-profit project organized by a single person. He worked hard for this for many years. He got a lot of respect and attention, but never scaled, maybe because the concept is a bit too advanced.

Now we fast forward to 2011. When one of these three geniuses is sitting here, They got together and Obviously already know Bitcoin. Bitcoin appeared very early, It’s great, but it’s also wasteful.

So, their idea is to build a more efficient, Consistent algorithm without consuming too much electricity like Bitcoin. But the same thing can be done. More importantly, at the same time from the Ripple Project Got some ideas for algorithms that can find paths, In order to exchange anything of value for anything of value.

I think this combination is like a magic combination. So if there is a genius pathfinding algorithm Combined with digital assets, and there is no counterparty or gateway counterparty to this digital asset, Then you have the ability to exchange anything of value in a very effective way. This is a concise and clever combination. In fact, I think this is the bud of what we see as the broader Internet of Value.

This concept has a certain foundation. So, I and these three geniuses Participated in this together, and soon after, The technology becomes stable enough, The moment it was announced, You know that change is coming.

This is actually the birth of XRP. Subsequently, we created a company dedicated to Advocate this ecosystem and focus on it, This also made for XRP enormous contributions. Then, we also bought Ryans Ripple Project, The pure effort was rewarded, This is a Stock exchange. We are also lucky to have Ripple’s URL.

This story is quite interesting, it comes from a Grateful Dead superfan. Thanks to Ripple’s use of Grateful Dead songs, we have always liked Grateful Dead. All this happened in 2012, This is Ripple’s entrepreneurial story.

Read More: 12 Million XRP Bought By Grayscale

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