Ripple is the name of a payment network and the payment protocol as well as a cryptocurrency. XRP and it’s payment network was developed and released in 2012 by a company of the same name, with the goal to create an tool to instantly and securely execute global financial transactions. It is built on principles similar to those of Bitcoin therefore many people consider it a cryptocurrency. Unlike Bitcoin, the source code of Ripple’s technology is owned privately by the company, which means that it cannot be verified by any outsider. Ripple is a very popular network: many banks across the world use it as the basis for their own settlement infrastructure, and its native currency XRP (Ripple) has been consistently present in the top five cryptocurrencies by market capitalization.
Another securities fraud lawsuit has been filed against Ripple in California. David Oconer is the plaintiff seeking to have XRP classified as a security. The case was filed in California’s Superior Court naming Brad Garlinghouse […]