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| Original author(s) | Arthur Britto, David Schwartz, Ryan Fugger |
|---|---|
| Developer(s) | Ripple Labs Inc. |
| Initial release | 2012 |
| Stable release | |
| Repository | |
| Written in | C++ |
| Operating system | Server: Linux (RHEL, CentOS, Ubuntu), Windows, macOS (development only) |
| Type | Real-time gross settlement, currency exchange, remittance |
| License | ISC license |
| Website | ripple |
Ripple is a real-time gross settlement system, currency exchange and remittance network that is open to financial institutions worldwide and was created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.[2] Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks". The ledger employs the native cryptocurrency known as XRP.
In December 2020, Ripple Labs and two of its executives were sued by the U.S. Securities and Exchange Commission (SEC) for selling XRP tokens, which the SEC classified as unregistered securities.[3] In July 2023, the court ruled that "XRP, as a digital token, is not in and of itself a 'contract, transaction, or scheme' that embodies the Howey requirements of an investment contract."[4]
- ^ a b "Official source code". Github. Retrieved May 14, 2014.
- ^ "Ripple Labs Banks $3.5M for Open-Source Payments System and Virtual Currency". The Wall Street Journal Pro. Dow Jones & Company. November 12, 2013. Retrieved January 28, 2014.
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