Ripple Labs, the administrator of blockchain payments network Ripple, has come under renewed criticism for its allegedly misleading representations that it "Discovered" - rather than created - the XRP token.
In a series of heated tweets on Oct. 9, Coinmetrics.io co-founder and Castle Island Ventures partner Nic Carter took the company to task for ostensibly attempting to obfuscate the nature of its relationship to XRP:."For the record, these psychopaths are still literally and without a shred of irony claiming that they 'discovered' XRP as opposed to having created it."
"Akin to Chevron's relationship to oil"Carter's aforementioned tweet links to an earlier message from the journalist Cory Johnson, who is featured on Modern Consensus' 2019 list of the "100 Most Influential People in Crypto."
Johnson, a former Bloomberg TV anchor, worked roughly a year as Ripple's chief markets strategist between March 2018 and February 2019.
"Ripple's relationship to XRP is akin [to] Chevron's relationship to oil. We have a lot of it, we believe it's a superior technology and we support its many uses - for billions of reasons. But we don't have all of it, we don't control it and we aren't it."
Beyond the sarcasm of Carter's response - "I miss those good ol XRP wildcatting days!" - he also posted a link to a fall 2018 article by attorney Preston Byrne, which he deems to be the definitive take on the matter.
A battle over historyByrne's article traces the history of the Ripple network, Ripple Labs and XRP's creation by examining documents such as the Founders' Agreement and incorporation records.
"No 'Official Ledger' containing XRP or any transactions on the ledger which is today used as 'XRP' existed before Ripple Labs, Inc. was incorporated on 19 September 2012.".
"One really important distinction is, the XRP ledger existed before Ripple the company. Certainly we are an interested party in the success of the XRP ledger, for sure - we own a lot of XRP. But it's a little bit like saying, Exxon owns a lot of oil. That doesn't make oil a security."
These pertain to Ripple's degree of alleged centralization, token handling, ownership, alleged price manipulation as well as whether or not a security classification applies to XRP..
Ripple Criticized for Alleged Misrepresentation of Relationship to XRP
gepubliceerd op Oct 10, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.