| XRP Ledger | |
|---|---|
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| Other names | XRPL[1][2][3][4] |
| Original authors | Jed McCaleb, Arthur Britto, David Schwartz |
| Initial release | June 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 | xrpl |
TheXRP Ledger (XRPL),[1][2][3][4] also called theRipple Protocol,[6] is a cryptocurrency platform launched in 2012 byRipple Labs. The XRPL employs the native cryptocurrency known as XRP, and supports tokens,cryptocurrency or other units of value such asfrequent flyer miles ormobile minutes.[7]
Development of the XRP Ledger began in 2011 by engineers David Schwartz,Jed McCaleb and Arthur Britto, with a discussion initiated by McCaleb on a publicdiscussion board. The thread was titled "Bitcoin without mining" and was on BitcoinTalk.org. The open-source project was originally called "Ripple", the unique consensus ledger was called the Ripple Consensus Ledger, the transaction protocol was called the Ripple Transaction Protocol or RTXP and the digital asset (known as "ripples") using XRP as the three-letter currency code to follow the naming convention of BTC for Bitcoin. The technology of the "XRP Ledger Consensus Protocol" was formally established in 2012.[8][9] In May 2018,Ashton Kutcher gifted a charity sponsored byEllen DeGeneres $4 million in the currency, which was noted at the time to be the "third most-valuable cryptocurrency on the market".[10]
On July 13, 2023, JudgeAnalisa Torres of theUnited States District Court for the Southern District of New York issued a decision on motions forsummary judgment and stated the XRP token itself is not a security, although the manner in which it is sold could constitute the sale of a security. "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".[11]
On March 2, 2025, PresidentDonald Trump announced that XRP was one of five digital assets that he intended to name to aplanned U.S. crypto strategic reserve.[12] On March 6, 2025, theWhite House officially published the order online.[13]
The XRP Ledger operates on a consensus protocol that differs from traditionalproof-of-work (PoW) andproof-of-stake (PoS) mechanisms.[8][3] Transactions are validated by a network of independentvalidators who reach consensus every 3 to 5 seconds, enabling rapid transaction settlement.[8] Users rely on a trusted list of validators known as the Unique Node List (UNL). While this approach provides faster transaction validation and security, though it has led to discussions about centralization within the network.
The XRP Ledgerpeer-to-peeroverlay network is characterized by asmall-world network topology, featuring a tightlyclustered structure and short paths between nodes.[14] Information systems expertMary Lacity notes that this platform "uses much less electricity than Bitcoin—about as much electricity as it costs to run an email server".[2]
AsYale economistGary Gorton notes, "Ripple and XRPL are not the same entity".[1] Shortly after the XRPL was launched, McCaleb, Britto and Chris Larsen founded the company Open Coin in September 2012 to operate on the ledger. On September 26, 2013, OpenCoin officially changed its name to Ripple Labs, Inc and was at the time headed byChris Larsen. Unlike many cryptocurrencies, XRP was pre-mined, with 100 billion tokens created at inception.[8][15] The XRPL founders gifted 80 billion XRP, the platform's native currency, to Ripple Labs.[4] Ripple Labs holds a portion of XRP and periodically releases tokens into circulation through sales, aiming to maintain market stability.
