A representative from Ripple and a member of the cryptocurrency community recently participated in a discussion on Twitter about the genesis of the well-known cryptocurrency XRP. Many were surprised by the disclosures that emerged from the conversation, which revealed important details pertaining to the history and growth of XRP.
The argument started when a member of the cryptocurrency community refuted the claim that Ripple invented XRP. They provided historical proof of Ripple, such as the invention of Ripple Credits and a crucial occasion when Jed McCaleb reset the XRPL. Initial blocks vanished, raising concerns that XRP distribution was being hidden. Investigation into the allegations of XRP theft and agreements with the original creators is encouraged.
In response to these assertions, David Schwartz, CTO of Ripple and one of the designers of XRP Ledger, sent out a series of tweets. He disregarded the argument’s fundamental logic by drawing a comparison to the invention of Bitcoin Cash. Schwartz noted that many people already had Bitcoin Cash at the time of its creation, but this was not due to any engagement on the part of the cryptocurrency’s developers. He emphasised that adjustments to system operations or regulations do not result in the creation of new iterations of current assets.
In answer to a follower’s question, Schwartz provided clarity about the nomenclature of XRP. The follower inquired as to what the first acronym “XNS,” which was employed when XRP was created, meant. Since no country code begins with “x,” “X” is frequently used as the initial character for currencies that are not issued by any nation, according to Schwartz, while “NS” stands for “New coins.”
