David Schwartz, Chief Technology Officer of Ripple, recently spoke about the Management of the massive XRP holdings of the company, which are often subject to massive criticism.
In the midst of a debate on Twitter, Schwartz says that the Payment have tried to Startup, to give away his Fund of 55 billion XRP. However, it was perceived as too difficult to do this after the crypto currency on the open market available, and tradable.
We tried. As soon As you could sell XRP easily, is giving away became really, really hard.
— David Schwartz (@JoelKatz) July 17, 2020
Comparing the management of XRP by the Start-up from San Francisco with the handling of the digital Assets of Stellar Lumens (XLM) by the Stellar Development Foundation (SDF) will remain, however, some open questions.
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Stellar power Ripple, how to do it properly
The co-founder of Ripple, Jed McCaleb, has launched Stellar 2014. Both assets are supposed to increase the speed and cost of cross-border payments, and reduce. In the past year, the SDF ran 55 billion XLM Token in your possession.
The Foundation said that it had more than enough means to develop XLM, and that you no longer need the billions of XLM to continue its Mission.
Tiffany Hades makes in your Tweet to the attention of the dealings of the Foundation with XLM stands in a stark contrast to the way Ripple stocks with your XRP bypasses.
No such commitment was made for $XRP. pic.twitter.com/G9QmV6nPhJ
— Tiffany Hayden🧢 (@Hayden TIFF) July 16, 2020
Ripple, in contrast, its 55 billion XRP to the end of 2017 on an escrow account and sold every month, parts of his holdings. However, the company has slowed down as a result of growing criticism of its sales of XRP in the last few quarters to dramatically, while the total amount of reduced deposited XRP to a total of about 6 billion.
Schwartz says that Ripple have regardless of the height of the XRP stock, no control over the XRP Ledger. He noted that the transactions would be in the edit as usual, if Ripple would give up the business. Such a scenario, the CTO said in reply to a question on the Q&A platform Quora.
Ripple has a part of XRP, but it gives us no control over the network. Our transactions must be approved by the validators, just like all of the others.
On the question of whether XRP is as native crypto-currency, Ripple is a good Investment, or not have divorced many spirits. Only recently, the well-known Anthony Pompliano expressed his opinion that the success of the Ripple depends only little to do with the XRP price. When it comes to the CTO of a financial company, XRP even so a good Investment that he would buy the Asset if he would not work in Ripple.
Why Ripple’s holding, however, to the sale of de XRP and not the example of Stellar follows, and your just completely burnt, remains open.
What do you think about dealing with the XRP holdings in the possession of the Ripple? You should follow the example of Stellar and all of the XRP burn?
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