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A judge imposed a small-than-expected $125 million fine on Ripple, the company that operates XRP. But the SEC wasn't happy with that ruling, and the agency recently filed a notice of appeal .
The open-source project was originally called "Ripple", the unique consensus ledger was called the Ripple Consensus Ledger, the transaction protocol was called the Ripple Transaction Protocol or RTXP and the digital asset (known as "ripples") using XRP as the three-letter currency code to follow the naming convention of BTC for Bitcoin.
Aside from broader market-related tailwinds, there are other token-specific factors driving today's positive price action with XRP. On Saturday, XRP saw its open interest surge to a record high ...
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The firm funds accepted startups with up to US$50,000 (equivalent to $64,352 in 2023) in XRP, Ripple's native currency, in exchange for a 3% to 6% stake in diluted common stock. Mentorship and support is provided by CrossCoin and Ripple Labs, Inc. [19] Ripple also developed early partnerships with companies such as ZipZap. [20] [21]
Garlinghouse joined Ripple as COO in April 2015, reporting to then CEO and co-founder Chris Larsen. He was promoted to CEO in December 2016. [ 8 ] In December 2019, Garlinghouse announced that Ripple had raised a $200M series C funding round from Tetragon, SBI Ventures and Route 66 Ventures. [ 9 ]
Ripple distributes all the XRP tokens on a timed, pre-determined schedule. That said, the cap is a staggering 100 billion, and only half are currently in circulation.
Ripple [26] [27] XRP Chris Larsen & Jed McCaleb [28] ECDSA [29] C++ [30] "Consensus" Designed for peer-to-peer debt transfer. Not based on bitcoin. 2013 Nxt: NXT BCNext (pseudonym) SHA-256d [31] Java [32] PoS: Specifically designed as a flexible platform to build applications and financial services around its protocol. 2014 Auroracoin: AUR ...