In response to recent speculations comparing the XRP Ledger to Bitcoin, Ripple CTO, David Schwartz, has addressed the issue and provided clarification. The discussion started on Twitter when a user claimed that XRP was simply a copy of Bitcoin with a few modifications. The user pointed out the presence of the MIT license document in the XRP source as evidence. Schwartz explained that the XRP Ledger did begin as a copy of Bitcoin in 2011 but underwent significant changes over time, relinquishing some of its similarities to Bitcoin. Schwartz also addressed questions regarding the use of SHA256, RIPEMD160, and Base58 for addresses in the XRP Ledger. Overall, he provided insight into the development and evolution of the XRP Ledger, putting an end to the comparisons.
XRP Ledger’s Bitcoin Comparisons
The comparison between the XRP Ledger (XRPL) and Bitcoin has been the subject of speculation and discussion in the cryptocurrency community. Some users have claimed that XRP is simply a copy of Bitcoin with a few tweaks. In this article, we will explore the origins of the XRP Ledger and examine how it has evolved over time, addressing the similarities and differences between XRP and Bitcoin.
Ripple CTO Response
Ripple CTO David Schwartz has responded to the speculation surrounding the similarities between XRP and Bitcoin. The discussion began when a user claimed to have found the MIT license document in the XRP source, leading them to believe that XRP was merely a copy of Bitcoin. Kevin Smith, another user, questioned Schwartz about including the Bitcoin license in the XRP source. In response, Schwartz explained the genesis of the XRP Ledger and clarified the current state of the project.
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Speculations on XRP as Bitcoin Copy
The claim that XRP is a copy of Bitcoin stems from the observation of the MIT license document in the XRP source. The user who made this claim argued that this similarity indicated a direct relationship between the two cryptocurrencies. However, it is essential to understand the context in which the XRP Ledger was developed and how it has evolved over time. By examining the initial development of the XRPL, we can gain a better understanding of its relationship with Bitcoin.
User Claims MIT License in XRP Source
The user who made the claim about the MIT license in the XRP source believed that this license document indicated a direct copy of Bitcoin. However, it is essential to note that the presence of the MIT license does not necessarily imply a direct relationship between XRP and Bitcoin. Licensing agreements are often used in open-source projects to define the terms under which the software can be used, modified, and distributed.
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Genesis of XRP Ledger
The XRP Ledger (XRPL) was initially developed in 2011 by three engineers: David Schwartz, Jed McCaleb, and Arthur Britto. These engineers were intrigued by Bitcoin and aimed to create a better version of the cryptocurrency that addressed its flaws. Their goal was to establish a more sustainable digital asset designed exclusively for payments.
Initial Development by Three Engineers
David Schwartz, Jed McCaleb, and Arthur Britto played instrumental roles in the initial development of the XRP Ledger. They started their work in 2011, leveraging their experience and knowledge gained from studying Bitcoin. Their goal was to improve upon the existing cryptocurrency by addressing its limitations and shortcomings. This initial development phase laid the foundation for the evolution of the XRPL.
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Creating a Better Version of Bitcoin
The three engineers involved in the initial development of the XRP Ledger aimed to create a better version of Bitcoin. They recognized the potential of blockchain technology and sought to capitalize on its benefits while improving upon the flaws and limitations of existing cryptocurrencies. Their vision was to create a digital asset that could serve as a more efficient and sustainable means of conducting payments.
Transformation of XRPL Over Time
As time went on, the XRP Ledger underwent significant transformations, distancing itself from its initial similarities to Bitcoin. David Schwartz, in his response to the speculation, acknowledged that XRPL began as a copy of Bitcoin core in 2011. However, he also emphasized that as time passed, the XRP Ledger took on a new form and relinquished some of its Bitcoin semblance.
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Address Format and Copyright Notice
One of the notable changes in the XRP Ledger’s transformation over time is the address format and copyright notice. According to David Schwartz, by the middle of 2012, the address format and the copyright notice were essentially all that remained of the initial Bitcoin similarities. This suggests that the XRP Ledger has evolved significantly and is distinct from Bitcoin in many aspects.
Conclusion
In conclusion, while the XRP Ledger began as a copy of Bitcoin core in 2011, it has since evolved and differentiated itself from Bitcoin. The initial development by David Schwartz, Jed McCaleb, and Arthur Britto aimed to create a better version of Bitcoin that addressed its flaws and limitations. Over time, the XRP Ledger underwent significant transformations, establishing its own unique identity in the cryptocurrency landscape. It is essential to recognize the evolution of the XRPL and not solely evaluate it based on its initial similarities to Bitcoin.
