This detailed report provides an excellent recap of Ripple’s history, from its founding to the present day. Along with an overview of the cryptocurrency’s consensus process, it also uncovers a number of disputes between founders and team members that have historically led to stark divisions in the organization.
Abstract: In this piece, we briefly look over the history of Ripple and examine various disputes between the founders and partner companies, typically over control of XRP tokens. We then explore elements of the technology behind Ripple. We conclude that the apparent distributed consensus mechanism doesn’t serve a clear purpose, because the default behaviour of Rippled nodes effectively hands full control over updating the ledger to the Ripple.com server. Therefore, in our view, Ripple does not appear to share many of the potentially interesting characteristics crypto tokens like Bitcoin or Ethereum may have, at least from a technical perspective.