Stefan Thomas: 'One Day We Will Decentralize Ripple'
Ripple has never been a favorite in Bitcoin circles, although it has grabbed the attention of banks and remittance powerhouse Western Union. Ripple Labs CTO Stefan Thomas cleared some misconceptions about the remittance system—which has been criticized for requiring a verified ID as well as for having a centralized system—in an interview with Epicenter Bitcoin. He explained how the protocol works, why the goal is for a more decentralized protocol, and how the company aims to disrupt the outdated banking system. Thomas explained that the original idea behind Ripple was to counter the....
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The chief technology officer of Ripple and the guy who introduced Bitcoin to millions of viewers, Stefan Thomas, now has a different attitude concerning blockchain technology. Does the Blockchain Make Everything Awesome? In a Medium blog post, Stefan Thomas, the creator of the YouTube video “What is Bitcoin?” and one of the developers who helped Gavin....
Current CTO David Schwartz claims Stefan Thomas created hundreds of accounts with 1.0 BTC "because that was the fastest and easiest number to type" for his experiments. David Schwartz, current chief technical officer at Ripple, is responding to reports his predecessor had lost access to hundreds of millions of dollars in Bitcoin. In a Quora post on Thursday, Schwartz said recent reports about former Ripple CTO Stefan Thomas forgetting the password to an encrypted hard drive containing thousands of Bitcoin (BTC) were true, but added Thomas had also lost access to hundreds of coins when the....
Earlier today, Stefan Thomas took to bitcointalk to announce that Bitfinex had passed their Proof of Solvency audit. The audit was conducted from Thomas's home office in San Francisco and occurred on April 5th and 6th. Bitfinex has hinted that they will be subject themselves to regular audits with different auditors each time in the continuing effort to reassure suspicious customers. In the aftermath of the Mt. Gox implosion, Bitcoiners have finally started exerting the bottom up pressure necessary to force Bitcoin exchanges to prove they aren't running a fractional reserve exchange. This....
Ripple Labs shortened its name to Ripple this week, a move which according to company officials, signals its products are now "out of the lab" and ready for use. Long one of the more well-funded startups in industry, Ripple was arguably the first to focus on use cases for distributed ledgers, introducing an alternative ledger that deviated from bitcoin's method for consensus and featured its own unique digital currency, XRP, as early as 2012. Since then, Ripple has increasingly put forth in its public messaging that it is seeking to realize an "Internet of Value", a term that denotes a....
Ripples owners, OpenCoin, have announced that they will make the payment system available on an open source license beginning September 26. The payment platform also has its own currency, some 100 billion of which have been mined in advance. But the parent company’s choice to keep Ripple closed sourced until now has been met with controversy. OpenCoin’s founders have said all along that they were planning to open source Ripple. CTO Stefan Thomas said there were some issues that had to be fixed before open sourcing, otherwise Ripple “would have likely sustained significant network....