Chief Technology Officer at Ripple Labs, David Schwartz, clarified that the company had nothing to do with the initial launch of the XRP token.
Schwartz pointed out that XRP existed before the company was founded.
The chronology of events is as follows:
- Development of the XRP Ledger (XRPL) began in 2011 by David Schwartz, Arthur Britto, and Jed McCaleb and was launched in June 2012.
- Three months later, Chris Larsen joined Schwartz, Britto, and McCaleb to establish NewCoin, which was later renamed OpenCoin and then Ripple Labs.
- The founders of XRPL donated 80% of the XRP supply to Ripple Labs.
An anonymous named Scam Detective started an online controversy over the authorship of XRP. However, Schwartz refuted his claims that Ripple created XRP.
DS, founder of the NFT xSPECTAR community, recently mentioned that the SEC failed to notice that XRP was created before the founders launched Ripple.
Later, Scam Detective claimed that Ripple changed the code to reset the XRP registry in December 2012, launching XRP as a new currency. His arguments were demolished by Schwartz, who pointed out that people already owned the currency when it was created without the direct involvement of its creators.
"The whole logic behind it doesn't make sense. When Bitcoin in physical form was created, a lot of people already had it, and it didn't happen because someone associated with Bitcoin in any way created it or gave it to people," he wrote on Twitter.
The Ripple CTO mentioned that the facts surrounding the creation of XRP are not in dispute, but that changes in accounting rules and accounting systems occurred after XRP was created.
Based on the facts he cited from the token's creation history, he stated that "XRP existed before Ripple."
We also reported that the SEC had filed charges against Binance and Changpeng Zhao.
Latest XRP News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
