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Ripple (cryptocurrency)

Ripple (cryptocurrency)

Ripple is a global currency exchange and remittance network that aims to lower the cost and improve the speed of international bank transfers relative to legacy financial infrastructure.

Ripple is a global currency exchange and remittance network that aims to lower the cost and improve the speed of international bank transfers relative to legacy financial infrastructure. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native currency called XRP (ripples). Ripple's consensus is based on the Federated Byzantine Agreement (FBA) -- a kind of middle ground between public, permissionless blockchains such as Bitcoin and private, permissioned blockchains such as Hyperledger Fabric.

Ripple was released in 2012, helping to enable "secure, instant and nearly free global financial transactions of any size with no chargebacks."

At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process. In 2014, Ripple defended the security of its consensus algorithm against a competitor; Stellar Network. Currently, Ripple is the third-largest cryptocurrency by market capitalization, after Bitcoin and Ethereum. Used by companies such as UniCredit, UBS or Santander, the Ripple protocol has been increasingly adopted by banks and payment networks as settlement infrastructure technology.


With the Ripple ledger, people can send and receive different types of fiat currency or cryptocurrency. XRP is the native currency of the ledger, but by preparing trustlines, in other words a trust relationship between two parties, two financial organizations or people can trade with multiple currencies, all on the Ripple ledger. In this way, banks can send money across the world in just seconds, not days. The foreign currency that is held on the ledger is in the form of an IOU. In addition, if one party sought to purchase a foreign currency from a party for which they have no direct trustline, Ripple provides a path-finding algorithm that connects the two parties through indirect trustlines. This mechanism is called 'rippling' and consumers who have multiple gateways in the same currency can 'allow rippling' on their account to receive a small transit fee for allowing inter-gateway liquidity.

Spam prevention

Every Ripple wallet must have a minimum of 20 XRP and every transaction mandates a fee in Ripple. This helps to prevent flooding of the network from adversaries who wish to thwart it.


December 22, 2020
The Securities and Exchange Commission announced that it has filed an action against Ripple Labs Inc. and two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.
December 20, 2019
Ripple raises a $200,000,000 series C round.
May 12, 2017
Ripple raises a $200,000 corporate funding round.
September 15, 2016
Ripple raises a $55,000,000 series B round from Standard Chartered.
October 6, 2015
Ripple raises a $4,000,000 series A round from CME Ventures, Mouro Capital and Seagate Technology.
May 19, 2015
Ripple raises a $28,000,000 series A round from Blockchain Capital, CME Ventures, CRCM Ventures, Core Innovation Capital, Digital Currency Group, IDG Capital Partners, Nurzhas Makishev, RRE Ventures, Route 66 Ventures and Seagate Technology.
Ripple was founded by Nithin David Thomas, Royce Raju Beena and Vinayak Radhakrishnan.
November 12, 2013
Ripple raises a $3,500,000 seed round from Camp One Ventures, Core Innovation Capital and IDG Ventures.
May 14, 2013
Ripple raises a $1,400,000 seed round from Camp One Ventures, IDG Capital Partners and Pantera Capital.
April 11, 2013
Ripple raises a $2,500,000 seed round from Andreessen Horowitz and Lightspeed Venture Partners.
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Funding rounds



Nithin David Thomas


Royce Raju Beena


Vinayak Radhakrishnan


Further reading


The Ripple Protocol Consensus Algorithm

David Schwartz, Noah Youngs and Arthur Britto


Documentaries, videos and podcasts


XRP Price Prediction 2020, 2021, 2025 | XRP Forecast

February 17, 2020




October 12, 2021
The Economic Times
Bitcoin climbed above $57,000 for the first time since May as speculators bet that the largest cryptocurrency will retest the record highs reached earlier this year.
Tony Zerucha
August 5, 2021
Crowdfund Insider
Click HERE to find out ⭐ Gensler's Appearance Before Congress Leave DeFi Industry Wanting More. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Omar Faridi
July 11, 2021
Crowdfund Insider
Ripple to expand from cross-border oayments to tokenized services, bringing crypto capabilities to enterprises, company exec reveals.
Rupert Jones
June 17, 2021
the Guardian
FCA says the digital assets appear to have become more normalised and viewed less as a gamble
Sophie Kiderlin
June 3, 2021
Ripple says the documents will prove the SEC's claim that Ripple broke the Securities Act by selling XRP is groundless.


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