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December 31, 2021

Ripple CTO Says He Perfected The Bitcoin Code in 2011

Tiffany Hayden, a well-known XRP supporter, found on GitHub in 2017 that David Schwartz, one of the original architects of the XRP Ledger, was also a Bitcoin code developer.

When asked on Wednesday if he contributed to the Bitcoin code from the beginning or later, the Ripple CTO revealed that he did indeed optimize the code for mining pool apps in 2011. Other Bitcoin developers that attended were Peter Todd, Matt Corallo, and Gavin Andresen.

Andresen, who has since departed from Bitcoin operations, was chosen as the principal developer of the decentralized Bitcoin open-source software system by Bitcoin founder Satoshi Nakamoto. He then went on to work full-time at the Bitcoin Foundation, which was established to improve Bitcoin’s public awareness.

At the end of 2011, Schwartz, Arthur Britto, and Jed McCaleb were motivated by Bitcoin to start developing the XRP Ledger (XRPL). The trio aimed to build Bitcoin 2.0, a cryptocurrency that is similar to Bitcoin but better.

Ripple executives routinely highlight the advantages of XRP versus Bitcoin, primarily emphasizing the tons of emissions produced by BTC mining. For example, Ripple executive chairman Chris Larsen recently urged miners to convert to the (PoS) consensus method in order to reduce Bitcoin’s energy-intensive proof-of-work model’s carbon impact.

The executives also claim that, while Ripple is responsible for XRP’s market penetration and other achievements, the crypto asset can survive in the absence of the distributed ledger company.

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Ripple is now looking at the prospect of establishing the red-hot (NFTs) market on the XRPL, in addition to XRP’s primary real-time payments use case. The company announced a $250 million creator fund in September to encourage tokenization innovation.