How Bitcoin’s Limitations Inspired the XRP Ledger

The newest episode of Block Stars is the primary of a two-part dialog between present Ripple CTO, David Schwartz and former Ripple CTO and present CEO of Coil, Stefan Thomas. David and Stefan first met at Ripple after Stefan was employed primarily based on his earlier work bringing Bitcoin to internet browsers.

“My claim to fame was to be the browser crypto guy,” he tells David. Stefan needed to assist make Bitcoin extra accessible and mainstream however the limitations of a pre-existing shared ledger meant that change was gradual and experimentation unattainable.

His probability to innovate with options like assist for various currencies and sooner affirmation instances got here when he joined Ripple and helped create the Interledger Protocol (ILP) and additional develop the XRP Ledger. Though generally concepts didn’t work out, as revealed by an interesting dialogue concerning the resolution to not construct sensible contract functionality into the XRP Ledger.

“We wanted to optimize for security, performance and the basic functionality,” he recollects. “Smart contracts were an interesting opportunity for the future, but…the better architecture was not to have the code inside of the ledger itself.”  

Listen to half certainly one of David and Stefan’s dialog now to listen to how ILP has develop into that separate system for powering sensible contracts, in addition to extra anecdotes and insights concerning the early days of Bitcoin and constructing the corporate, Ripple.

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