When did Ripple start?

Ripple originated from the RipplePay network in 2004 and was designed to provide decentralized payment solutions. In 2012, OpenCoin was established to focus on the development of Ripple (XRP). Ripple, a digital asset used for cross-border payments, has experienced major development milestones since its launch, including becoming the second-largest cryptocurrency by market capitalization and facing charges from the U.S. Securities and Exchange Commission for not registering a security.

The birth of Ripple

The birth of Ripple can be traced back to 2004. At the time, Ryan Fugger served as chief technology officer of global payments network RipplePay. RipplePay aims to provide a secure, decentralized solution for online payments.

In 2012, Fugger and Jed McCaleb founded a new company, OpenCoin, focused on developing and promoting Ripple (XRP). Ripple is a digital asset used for cross-border payments and remittances.

Milestones in the development of Ripple

• 2013:Ripple was officially launched and used by some early adopters.
• 2014: OpenCoin changes its name to Ripple Labs to reflect its focus on XRP and the RippleNet network.
• 2015: Ripple becomes the second-largest cryptocurrency by market capitalization.
• 2017: Ripple reaches an all-time high with a market capitalization of over $100 billion.
• 2018: Ripple was hit hard by the U.S. Securities and Exchange Commission (SEC) accusing it of being an unregistered security.
• 2021: SEC sues Ripple for unregistered securities offering. The lawsuit is ongoing.

Today, Ripple remains a popular digital asset primarily used for cross-border payments and remittances. The Ripple network has also grown into a popular platform for building decentralized applications (DApps).

The above is the detailed content of When did Ripple start?. For more information, please follow other related articles on the PHP Chinese website!