The XRP Ledger was created by developers in 2011 as a more sustainable way of sending value compared to Bitcoin mining. 80% of XRP was gifted to a company called NewCoin, which later became Ripple. Ripple CTO David Schwartz addressed speculation on the XRP Ledger's distribution, stating that the creators keeping a majority of the value is fair in a free market. The distribution was agreed upon in September 2012. The XRPL did not fully work until January 2013.



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