In 2011 and early 2012, Arthur Britto, Jed McCaleb, and David Schwartz developed the source code for a cryptographically secured ledger.
SEC v. Ripple Court Filing, retrieved on July 13, 2023 is part of . You can jump to any part in this filing . This part is 2 of 18. HackerNoon’s Legal PDF Series here BACKGROUND I. Factual Background A. Development of the XRP Ledger and the Founding of Ripple In 2011 and early 2012, Arthur Britto, Jed McCaleb, and David Schwartz developed the source code for a cryptographically secured ledger, or a “blockchain,” which is now known as the XRP Ledger. SEC 56.1 Resp. ¶ 11, ECF No.
Like ODL, some, but not all, of Ripple’s products and services rely on the XRP Ledger and XRP. SEC 56.1 Resp. ¶ 44. The XRP Ledger is based on open-source software; anyone can use the ledger, submit transactions, host a node to contribute to the validation of transactions, propose changes to the source code, or develop applications that run on the ledger. Id. ¶¶ 52, 54. Other developers have built software products that use the XRP Ledger, such as payment-processing applications.
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