Today is XRP’s 10th birthday


The cryptocurrency created by the Ripple company called XRP He is today on his 10th birthday.

In addition to Bitcoin Y Dogecoinis the only OG cryptocurrency that managed to remain among the largest cryptocurrencies by market capitalization.

Arthur Britto, David Schwartz and Jed McCalebco-founders of Ripple Labs, started working on the XRP Ledger in 2011. Schwartz’s first commitment dates back to November 2011.

On June 2, 2012, Britto submitted lines of code that created 100 billion tokens that were later named “XNS”.

However, the oldest transaction history of the controversial cryptocurrency has been erased since the ledger was reset several times due to errors.

The current version of the XRP Ledger started in December 2012.

As of today, more than 72 million ledgers have been confirmed on XRP Ledger, with the total number of transactions exceeding 807,000.

A substantial part of the 100 billion tokens (20%) was given away to Britto, McCaleb and Ripple co-founder, Chris Larsen. The latter joined the engineers after starting a new company called NewCoin (which was renamed OpenCoin shortly after its launch). OpenCoin then changed its name to Ripple in 2013. The company received the vast majority of pre-mined tokens (80%).

Despite attracting accusations of centralization, XRP saw a massive rally in 2017, topping 32,000% and briefly becoming the No. 2 cryptocurrency.

At the end of 2017, Ripple owned 55% of the total supply. Back then, it announced that it would hold the tokens in escrow for 55 months to control selling pressure.

At the end of 2020, the US Securities and Exchange Commission sued Ripple for allegedly illegally selling XRP. The regulator claims that the token is an unregistered security.

The case, which is expected to have major implications for the entire industry, has yet to be resolved.

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