The Way Bitcoin’s Limitations Inspired the XRP Ledger | Fintech Zoom

The most recent episode of Block Stars is the first of a two-part dialogue between present Ripple CTO, David Schwartz and former Ripple CTO and present CEO of Coil, Stefan Thomas. David and Stefan first met at Ripple later Stefan was hired based on his prior occupation bringing Bitcoin to internet browsers.

“My claim to fame was to be the browser crypto guy,” he informs David. Stefan wanted to make Bitcoin more mainstream and accessible however, the constraints of a preexisting shared ledger supposed that change has been slow and experimentation hopeless.

His opportunity to innovate with features including support for different currencies and quicker confirmation days came when he combined Ripple and helped produce the Interledger Protocol (ILP) and further build the XRP Ledger. Though occasionally ideas didn’t work out, as shown with an intriguing discussion about the choice to not construct smart contract capacity to the XRP Ledger.

“We wanted to optimize for security, performance and the basic functionality,” he remembers. “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 part of David and Stefan’s dialog today to hear ILP is now that independent method for powering smart contracts, in addition to much more anecdotes and advice about the first days of Bitcoin and building the firm, Ripple.