History of XRP Ledger in Timeline
The XRP Ledger (XRPL) is a cryptocurrency platform launched in 2012. It utilizes its native cryptocurrency, XRP, and facilitates the use of tokenized assets, representing various units of value such as cryptocurrencies, frequent flyer miles, or mobile minutes. Distinct from proof-of-work systems like Bitcoin, the XRPL uses a consensus mechanism to validate transactions, making it faster and more energy-efficient. Its distributed ledger technology allows for real-time settlement of transactions, adding to its efficiency.
2011: XRP Ledger Development Begins
Development of the XRP Ledger (originally called "Ripple") began in 2011 by David Schwartz, Jed McCaleb, and Arthur Britto.
September 2012: OpenCoin Founded
Shortly after the XRPL launch, OpenCoin was founded in September 2012 to operate on the ledger.
2012: XRP Ledger Consensus Protocol Established
The "XRP Ledger Consensus Protocol" was formally established in 2012.
2012: XRP Ledger Launch
The XRP Ledger (XRPL) cryptocurrency platform was launched in 2012. It introduced XRP, its native cryptocurrency, and offered support for other cryptocurrencies and units of value.
September 26, 2013: OpenCoin Renamed to Ripple Labs
On September 26, 2013, OpenCoin officially changed its name to Ripple Labs, Inc.
May 2018: Ashton Kutcher's XRP Donation
In May 2018, Ashton Kutcher donated $4 million in XRP to a charity sponsored by Ellen DeGeneres. At the time, XRP was considered the third most valuable cryptocurrency.
July 13, 2023: Court Ruling on XRP Security Status
On July 13, 2023, a US District Court ruled that the XRP token itself is not a security, although the way it's sold could be considered a security.