David Schwartz, Ripple CTO took to the X app to announce that this weekend marks his 11th year “Rippleversary”, which connotes that launch of the XRP Ledger (XRPL) in 2012.
The Launch of the XRP Ledger
XRP community members felicitated with Ripple CTO as he commemorated his time with the crypto payment company. According to a published statement, Schwartz together with Jed McCaleb, and Arthur Britto began the development of the XRP Ledger as far back as 2011.
Their inspiration at the time was the flagship cryptocurrency Bitcoin (BTC) but they were more concerned about its limitations (one of which was the waste inherent in mining) and decided to improve on it. With the goal of improvement, Schwartz, McCaleb, and Britto set out to build a digital asset that was more sustainable and built specifically for payments. This marked the birth of the XRP Ledger.
Noteworthy, the three engineers made significant progress in their development and by June 2012, the XRP Ledger was rolled out. It was after this time that Ripple co-founder Chris Larsen joined the team. The new group started NewCoin in September 2012 which was later renamed OpenCoin and now known as Ripple.
In 2020, the XRPL Foundation, an independent and nonprofit entity with a mission to accelerate the development and adoption of the decentralized XRP Ledger, was launched.
XRPL Debuts Innovative Features
Within the space of 11 years, the XRP Ledger has seen outstanding improvements and has been crucial to the implementation of other blockchain-based projects. The protocol possesses some key features that makes it attractive to other projects. The XRP Ledger was upgraded in September to version 1.12.0 which came with some new features.
Automated Market Maker (AMM), Clawback function, and fixReducedOffersV1 are some of the newly introduced upgrades. It also has a liquidity feature that makes it possible to provide liquidity for a restricted token that is resident on the XRPL. One of XRPL’s recent achievements is the mainnet launch of the much-anticipated fixNFTokenRemint upgrade
In terms of transactions, the XRP Ledger has hit several milestones that has given it an edge amongst its core competitors. Last month, the blockchain network closed its 84 millionth ledger.
All of these innovations have earned the XRPL a stellar reputation in the crypto industry.
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