Ripple was founded in 2012 by a group of entrepreneurs and developers after initial work on the underlying technology had begun.
The creation of the company known today as Ripple involves several key figures and a foundational technology called the XRP Ledger.
The Founding of Ripple
Based on available information:
- Founding Year: Ripple was formally established in 2012.
- Key Founders: The company was founded by:
- Chris Larsen
- David Schwartz
- Arthur Britto
- Jed McCaleb
This founding event occurred after work on the XRP Ledger had already started. The XRP Ledger is a decentralized cryptographic ledger that powers the XRP cryptocurrency and facilitates fast, low-cost transactions.
Early Days: OpenCoin
The company did not initially launch under the name "Ripple." Its original name was OpenCoin.
Over time, OpenCoin underwent a series of name changes before finally settling on the name Ripple. This evolution reflects the company's growth and shifting focus as it developed its payment solutions.
Key Aspects of Ripple's Creation
Here are some important points regarding how Ripple came into being:
- It was a collaborative effort by a group of individuals with a vision for improving global payments.
- The company's formation followed the commencement of development work on the core technology, the XRP Ledger.
- The initial company name was OpenCoin, which later became Ripple through various transitions.
While the founders established the company in 2012, their work built upon the technical foundation being laid for the XRP Ledger, highlighting the interplay between the technological development and the business entity designed to leverage it.
