Who created Ripple

[Melissa Arres]

The history of the Ripple cryptocurrency begins in 2004, at a time when a programmer named Fugger set out to create a new payment system Ripplepay. The development of this system caused slight difficulties at the very start of creation, but by 2005 most of the work was completed, and Ripplepay saw its first clients.

In 2005, the system did not have a very successful start, so its development continued until 2011. Only 6 years after the launch of the initial version, the developers decided to re-launch the decentralized network. One of its distinctive features was that there was almost no mining in it, that is, it was impossible to mine a coin. Another distinguishing feature of the XRP cryptocurrency is that the speed of transactions (that is, the purchase and sale of this currency) is much higher than that of the famous Bitcoin.

In the starting year 2011, the programmer Chris Larsen joins the Fugger team, who will later be transferred to the chair of the director of Ripple Labs. It is worth mentioning separately that it was in 2011 that Fugger and Larsen conceived to create their own cryptocurrency, because in 2004 there was not even talk of such a concept as a cryptographic currency. Initially, Fugger wanted to create a single global system in which free payments could be made. As soon as such an idea was realized, the system had its own unit of account, which was later called the XRP cryptocurrency.

Special attention should be paid to the fact that a year later a company called OpenCoins was created on the basis of Ripple Labs, which additionally contributed to the promotion of not only the system on the sites on the Internet, but also the spread of XRP cryptocurrency. The developers even decided to create a special application for smartphones to make it easier for users to make transactions with the Ripple coin.

[Lada fance]

Ripple is a universal settlement network that makes it possible to transfer almost any currency anywhere in the world within a few seconds. The general principle of the network is as follows: let's say there is a person who needs to transfer money from South Africa to Canada with a conversion from rand to Canadian dollar. The second person needs to transfer money from Canada to Venezuela, the third - from Venezuela to South Africa. Physically, such transactions are difficult to carry out without conversion to the dollar, and these are high costs for commissions.

[Lada fance]

To buy ripple you can use the BestChange service https://www.bestchange.com/visa-mastercard-usd-to-ripple.html
This is a free Internet-service intended to help finding electronic currency exchange services with the best exchange rates. So you can find the most favorable conditions and rates for buying ripple