What is Ripple coin? Brief background information on ripple

What is Ripple coin? This is a fairly old project that was started in 2004 before bitcoin. The father of the project is Ryan Fugger, then Jed McCaleb, Arthur Britto, and David schwartz all three participated in implementing this project concept with many blockchain-like functions through a company called opencoin. But until 2012, Ripple was officially established, the first CEO was Chris Larsen.

What is Ripple coin

1 – What is Ripple coin?

Ripple coin is a cryptocurrency of the Ripple XRP project. The goal of ripple XRP is to become a global payment network that allows customers, investors, and financial institutions to transact on the platform.

2 – History begin

Most of us have heard of Bitcoin (BTC) as the first cryptocurrency. But few people know that the Ripple project existed long before bitcoin.

This Ripple project was started in 2004, the father of the project is Ryan Fugger. Then 3 people Jed McCaled, Arthur Britto, David Schwartz participated in implementing the idea of Ryan Fugger with many blockchain-like functions.

It was not until 2012 that Ripple was officially founded and was backed by investment fund google ventures, andressen horowitz and other investment funds. Ripple’s first CEO was Chris Larsen.

3 – Application of Ripple

Ripple’s fate differs from bitcoin. This platform has been approved by a number of major banks around the world, allowing the payment process to be legalized.

As can be seen, the future of Ripple depends entirely on the adoption of the platform by banks. As more banks around the world join the platform’s network, of course the price of Ripple (XRP) will also increase.

4 – Advantages and disadvantages

4.1 – Advantages

As more banks join the network adopting the Ripple platform, the higher the value of XRP will be.

Ripple is an organization trusted by many banks around the world.

4.2 – Disadvantages

Highly centralized, developers can decide when and how much XRP will be released or not.

5 – Development team

The Ripple project development team (XRP) has 2 main members as follows:

Chris Laren: Co-founder and leader of several finance companies.

McCaled: Co-founder of Mt.Gox exchange and several other crypto projects.

The Ripple project is built and developed on behalf of the OpenCoin company.

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