In 2012, a start-up called Opencoin launched the Ripple payment-protocol network for handling real-time gross payment settlements, currency exchanges, and remittance payments for financial institutions. It boldly claimed Ripple could enable "secure, instantly, and nearly free global financial transactions of any size with no chargebacks."

Ripple routed those transactions through its blockchain-based ledger, which also hosted a native cryptocurrency called XRP (CRYPTO: XRP). Opencoin rebranded itself as Ripple Labs in 2015, and the market's interest in XRP subsequently skyrocketed as Bitcoin and Ether lit a fire under the broader crypto market.

Image source: Getty Images.

Continue reading

Source Fool.com