Guides to Cryptocurrency Founders
3. Ripple (XRP) Founder Introduction
Jed McCaleb, the founder of Ripple (XRP), is a well-known programmer and entrepreneur from the United States. He is the co-founder of Stellar and Stellar.org and created Mt.Gox, a Bitcoin Exchange based in Tokyo, originally intended to be a Magic the Gathering card trading website. McCaleb sold the Mt.Gox company in February 2011 and remained a minority owner. Mt.Gox grew and by the end of 2013 was the leading bitcoin exchange in the world, but filed for bankruptcy and closed down after $450 million worth of Bitcoin were discovered and declared missing or stolen in 2014.
In 2011, Jed McCaleb came up with an idea of a new digital currency system in which members of the network verify transactions rather than use blockchain or mining process. He hired David Schwartz and Arthur Britto, and they designed and built the new system, now known as Ripple. Jed McCaleb remained actively involved in the development of the Ripple protocol and XRP cryptocurrency until he left his role with the Company in July 2013.
Months later, Jeb McCaleb donated $500,000 USD worth of XRP in January 2014 to the Machine Intelligence Research Institute (MIRI). As of April 2018, Ripple had grown to become the cryptocurrency with the world's 3rd largest cryptocurrency market cap of more than $32 billion USD.
In 2014, Jeb is the co-founder and served as the CTO of Stellar (XLM), an open-source protocol designed for cross-border monetary transactions of either digital or fiat currencies. Stellar had since grown to become the cryptocurrency with the world's 7th largest cryptocurrency market cap of more than $3.8 billion USD as of July 2018.