{"id":10082,"date":"2023-06-13T01:57:41","date_gmt":"2023-06-13T01:57:41","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=10082"},"modified":"2022-05-17T00:28:08","modified_gmt":"2022-05-17T00:28:08","slug":"who-is-jed-mccaleb","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/who-is-jed-mccaleb","title":{"rendered":"Who is Jed McCaleb?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/who-is-jed-mccaleb\/#biography_of_jed_mccaleb\" >Biography of Jed McCaleb\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/who-is-jed-mccaleb\/#edonkey\" >EDONKEY<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/who-is-jed-mccaleb\/#jed_mccalebs_entry_into_the_blockchain_world\" >Jed McCaleb\u2019s entry into the Blockchain world<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/who-is-jed-mccaleb\/#mt_gox\" >MT. GOX<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/who-is-jed-mccaleb\/#ripple\" >RIPPLE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/who-is-jed-mccaleb\/#stellar\" >STELLAR<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/who-is-jed-mccaleb\/#jed_mccaleb_today\" >JED MCCALEB TODAY<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>Little is known about his private life but anyone passionate about the crypto world will have at least once heard his name or knows one of his companies\/projects. But if you still don\u2019t know him don\u2019t worry as today you will learn\u00a0<strong>who Jed McCaleb is, why he is one of the most famous people in the blockchain and crypto ecosystem<\/strong>\u00a0and what contributions he has made to this world.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner\">\n<h2><span class=\"ez-toc-section\" id=\"biography_of_jed_mccaleb\"><\/span><strong>Biography of Jed McCaleb\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<\/div>\n<p><b>Jed McCaleb is an American programmer and entrepreneur\u00a0<\/b>who was involved in founding several technology companies over the years. In the crypto space he is known as the\u00a0<strong>founder of 2 notable blockchain companies Ripple and Stellar.<\/strong><\/p>\n<p>Jed was born in 1975 in Fayetteville and spent his formative years in Arkansas. He briefly attended the University of California at Berkeley which he dropped out while still in his freshman year to begin his career as an entrepreneur in the technology sector.<\/p>\n<p>Prior to his foray into the blockchain ecosystem, Jed had built technology companies, however, cryptocurrency was always his strong point and he has proven this throughout his years in the technology industry.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3><span class=\"ez-toc-section\" id=\"edonkey\"><\/span><strong>EDONKEY<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner\">\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_930160483\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui%C3%A9n-es-Jed-McCaleb2.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb2-300x205.jpg 300w\" alt=\"Jed McCaleb e Emule Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb2-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb2.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner\">\n<div class=\"is-divider divider clearfix\"><\/div>\n<p><b>Jed wanted to leverage technology to reduce inefficiency and improve the human condition.<\/b><\/p>\n<p>For this reason,\u00a0<strong>in 2000<\/strong>, he founded, together with Sam Yagan,\u00a0<strong>eDonkey<\/strong>\u00a0(also called eDonkey2000 or eD2K network),\u00a0<strong>a P2P file-sharing company<\/strong>\u00a0very similar to Napster, which, at that time, was already starting to experience operational difficulties.<\/p>\n<p><b>eDonkey\u00a0<\/b>allowed large files to be shared between users thanks to a decentralized network architecture that allowed sharing directly between users, without hosting them on a central server.<\/p>\n<p>By 2004, eD2K, with up to 200 servers, had become\u00a0<strong>the most popular file-sharing network on the web<\/strong>\u00a0and was handling an average of nearly 2 billion files shared by approximately 3 million users.<\/p>\n<p>In 2006, the RIAA sued MetaMachine Inc. the company responsible for developing and running the eD2K client program for alleged copyright infringement due to the unauthorized sharing of licensed music on the eDonkey Service.<\/p>\n<p>The company had to discontinue distribution of eDonkey and this marked its decline and Jed\u2019s departure from the project, before the era of Torrent and advanced P2P file sharing protocols began.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"jed_mccalebs_entry_into_the_blockchain_world\"><\/span><strong>Jed McCaleb\u2019s entry into the Blockchain world<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3><span class=\"ez-toc-section\" id=\"mt_gox\"><\/span><b>MT. GOX<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>When in 2009 Satoshi Nakamoto launched Bitcoin, Jed was attracted by the project and the technology behind the first cryptocurrency in history and began to explore the technology in detail until he founded Mt.Gox.<\/p>\n<p>Jed began to believe that the community needed an exchange service to trade bitcoin and in July 2010 he founded Mt.Gox, the first bitcoin exchange based in Tokyo (Japan) that handled more than 70% of all transactions worldwide,\u00a0<strong>becoming the largest bitcoin exchange in the world.<\/strong><\/p>\n<div id=\"row-565063467\" class=\"row\">\n<div class=\"col small-12 large-12\" data-animate=\"flipInY\" data-animated=\"true\">\n<div class=\"col-inner text-center text-shadow-1\">\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"banner-1218064881\" class=\"banner has-hover\">\n<div class=\"banner-inner fill\">\n<div class=\"banner-bg fill\">\n<div class=\"bg fill bg-fill bg-loaded\"><\/div>\n<\/div>\n<div class=\"banner-layers container\">\n<div class=\"fill banner-link\"><\/div>\n<div id=\"text-box-491279066\" class=\"text-box banner-layer x50 md-x50 lg-x50 y50 md-y50 lg-y50 res-text\">\n<div class=\"text dark\">\n<div class=\"text-inner text-center\">\n<p>Mt. Gox stands for \u201cMagic: The Gathering Online Exchange\u201d, which was the name of a fantasy card trading service that Jed had created some time ago. Being the owner of the domain, he decided to use it to launch a Bitcoin exchange service.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>In 2011 Jed sold the company to Mark Karpel\u00e8s and remained a minority partner.<\/p>\n<p>In 2014, after\u00a0<strong>Mt. Gox\u2019s website was hacked, resulting in the theft of approximately 850,000 bitcoins<\/strong>\u00a0belonging to customers, it declared creditor bankruptcy and closed its doors.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3><span class=\"ez-toc-section\" id=\"ripple\"><\/span><b>RIPPLE<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"row-543297145\" class=\"row\">\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner text-center\">\n<div id=\"image_1756205398\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui%C3%A9n-es-Jed-McCaleb3.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb3.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb3-300x205.jpg 300w\" alt=\"Jed McCaleb y Ripple Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb3.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb3-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb3.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>In 2011, during the Mt. Gox venture, Jed McCaleb began to study Bitcoin technology in depth and some of the major flaws in the system prompted him to\u00a0<strong>create a cryptocurrency that was immune to Bitcoin\u2019s inherent flaws.<\/strong><\/p>\n<p>So it was that, together with David Schwartz, Jesse Powell and Arthur Britto, Jed developed Ripple (originally called Opencoin), a digital currency in which transactions were verified using the Proof of Stake algorithm instead of the consensus algorithm used in Bitcoin (Proof of Work).<\/p>\n<p>OpenCoin soon became Ripple, under the aegis of Ripple Labs, and with\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/millonarios-de-las-criptomonedas\/\">Chris Larsen<\/a>\u00a0at the head, was able to establish useful banking relationships and was adopted by a growing number of financial institutions to offer an alternative remittance option to consumers thanks to near-instant and inexpensive transactions.<\/p>\n<p>Ripple Labs created its own decentralized cryptocurrency known as\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/que-es-ripple-xrp\/\">Ripple (XRP)<\/a>, which is currently the seventh largest coin (with a market capitalization over USD $19 billion at the time of writing).<\/p>\n<p>After several disagreements in 2013, Jed left the company and his exit was conditioned based on a consensus where McCaleb for 7 years could trade limited amounts of XRP to avoid harming the digital currency market and, he was allowed to sell one billion XRP in the sixth year of the agreement and two billion XRP in the seventh.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3><span class=\"ez-toc-section\" id=\"stellar\"><\/span><b>STELLAR<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"row-1124471832\" class=\"row\">\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner text-center\">\n<div id=\"image_1672426266\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui%C3%A9n-es-Jed-McCaleb.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb-300x205.jpg 300w\" alt=\"Jed McCaleb y Stellar Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/Qui\u00e9n-es-Jed-McCaleb.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>A year after leaving Ripple Labs, Jed McCaleb returned with a new project related to the world of cryptocurrencies. It is\u00a0<strong>Stellar Development Foundation<\/strong>, the non-profit organization whose goal was to develop the open source\u00a0\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/que-es-stellar\/\">Stellar<\/a>\u00a0protocol to\u00a0<strong>increase economic participation of all people<\/strong>\u00a0and which would soon become Ripple\u2019s direct competitor.<\/p>\n<p>The Stellar project features a decentralized money\u00a0<strong>exchange protocol with near-instantaneous, secure and cheap transactions<\/strong>. But unlike Ripple, which concentrates more on B2B money exchange services,\u00a0<strong>Stellar focuses more on B2C transactions.\u00a0<\/strong><\/p>\n<p>The organization entered the market on\u00a0<strong>July 31, 2014<\/strong>\u00a0and received a $3 million loan from Stripe.<\/p>\n<p>Stellar originally based its payment network on the Ripple protocol and in 2015 adopted the Stellar Consensus Protocol, with McCaleb as Stellar\u2019s CTO.<\/p>\n<p><b>In May 2017, McCaleb also launched Lightyear.io,<\/b>\u00a0a project that builds on the Stellar network and makes Stellar a global payment and currency exchange.<\/p>\n<p>Finally, in\u00a0<strong>September 2018<\/strong>, McCaleb created\u00a0<strong>InterStellar<\/strong>\u00a0through the merger of Lightyear and Chain.com.<\/p>\n<p>Although Stellar was initially seen as McCaleb\u2019s revenge against Ripple Labs and with little future, in a very short time Stellar reached\u00a0<strong>the top ten of the coins with the highest market capitalization.<\/strong><\/p>\n<p>Today (March 2021), Stellar ranks as the 10th most capitalized coin with\u00a0<strong>a market cap of over $9 billion.<\/strong><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2 class=\"uppercase\"><span class=\"ez-toc-section\" id=\"jed_mccaleb_today\"><\/span>JED MCCALEB TODAY<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>Jed McCaleb\u2019s net worth is estimated at around $20 billion, most of which is stored in Ripple tokens.<\/p>\n<p><a href=\"https:\/\/es.cointelegraph.com\/news\/ripple-co-founder-jed-mccaleb-sold-400-million-worth-of-xrp-in-2020\">According to reputable sources<\/a>,\u00a0<strong>Jed McCaleb<\/strong>\u00a0sold approximately one billion XRP in the five years between 2014 and 2019.<\/p>\n<p>In the last year it\u00a0<strong>sold more than $400 million of XRP.<\/strong><\/p>\n<p>In January 2018, the New York Times named\u00a0<strong>McCaleb one of the top 10 people leading the Blockchain revolution<\/strong>\u00a0and reported that McCaleb\u2019s token ownership in Ripple would put him\u00a0<strong>40th on Forbes\u2019 list of the world\u2019s richest people.<\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Little is known about his private life but anyone passionate about the crypto world will have at least once heard his name or knows one of his companies\/projects. But if you still don\u2019t know him don\u2019t worry as today you will learn\u00a0who Jed McCaleb is, why he is one of the most famous people in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=10082"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/8128"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=10082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=10082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=10082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}