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HomeNewsSatoshi Nakamoto Applauds Ripple (XRP) as Groundbreaking Currency Paradigm

Satoshi Nakamoto Applauds Ripple (XRP) as Groundbreaking Currency Paradigm

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  • In 2009, Satoshi Nakamoto expressed his interest in Ripple, highlighting its focus on distributing trust, as opposed to centralizing it.
  • Satoshi Nakamoto discussed technical aspects of Bitcoin and recognized RipplePay as a precursor project and inspiration for the XRP Ledger.

In 2009, a series of emails between Bitcoin founder Satoshi Nakamoto and developer Martti Malmi revealed Nakamoto’s interest in the Ripple project, a detail that has recently gained prominence in the crypto sector.

Satoshi Nakamoto’s analysis of Ripple

Martti Malmi, active in Bitcoin development from 2009 to 2011, revealed communications with Satoshi Nakamoto, where the latter showed interest in Ripple. In their dialogues, they examined technical details of Bitcoin, including its issuance schedule, total coins, units and the feasibility of smaller bitcoin divisions.

Nakamoto highlighted Bitcoin’s ability to support high trading volume without immediate need for commissions. Introducing the topic of Ripple into the conversation, Malmi sought to get Nakamoto’s opinion on Ripple, who described it as an “interesting” project because of its focus on trust distribution, as opposed to trust centralization.

Clarification on Ripple and XRP

It should be noted that despite the fact that certain members of the XRP community have interpreted Satoshi’ s comments as praise for XRP, they were made three years prior to the creation of XRP.

Satoshi’s comments referred to ‘RipplePay’, the initial Ripple protocol developed in 2004 by Ryan Fugger, which later inspired the development of the XRP Ledger (XRP).

This finding comes at a pivotal time for Ripple and Bitcoin. Ripple has established itself as key payment system within the cryptocurrency financial market, providing advanced solutions for the sector .

At the same time, Bitcoin’s market capitalization has surpassed $1 trillion, reaffirming its position as the leading digital asset.

XRP_1Y_graph_coinmarketcap
Ripple MarketCap – Source: CoinmarketCap

Ripple (XRP) current price is 0.54017 USD, with a change of -0.39% in the last 24 hours. At the time of inquiry, Ripple has a market cap of about 29.49 billion USD and a trading volume in the last 24 hours of about 720.28 million USD.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628
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