Chris Larsen, Jed McCaleb, and Arthur Britto launched Ripple back in 2012. Ripple started in 2005 as a payments service called “RipplePay.” Jed McCaleb, formerly involved with MtGox, started writing a paper on the eDonkey Network, a file-sharing network. With the help of David Schwartz, the pair launched XRP in May 2011.
Fugger agreed to pass ownership of RipplePay to the team, and then the team rebranded to “OpenCoin.” Unfortunately, OpenCoin didn’t take off as the team expected, and they had to rebrand one more time. This time the team chose to move back to Ripple but calling themselves “Ripple Labs” after a capital injection from Roger Ver and Andressen Horowitz, as well as other investors into the project.
Ripple launched officially in 2012, and in 6-years, XRP has achieved a dominating spot in the crypto sphere. Ripple continues to grow, establishing new protocols that continue to help it scale into the new demands of the market. Adopting the Ripple Consensus Ledger (RCL), as well as the Interledger Protocol (ILP), helps to produce faster and cheaper cross-border payments.