David Schwartz, the CTO of Ripple, responded to the persistent rumours that XRP is essentially the same as Bitcoin with a few minor exceptions.
The debate on X (previously Twitter) began when a user asserted that XRP was nothing more than a modified version of Bitcoin.
According to Kevin Smith, who then questioned the Ripple CTO about the justification for embedding the Bitcoin licence in the XRP code, the X user “Scams are Bad5” claimed to have found the MIT licence document somewhere in the XRP source.
Ripple CTO David Schwartz saw the tweet and responded by outlining the history of the XRP Ledger and its present situation.
David Schwartz, Jed McCaleb, and Arthur Britto, three technologists, created XRP Ledger (XRPL) at first in 2011.
They were intrigued by Bitcoin and set out to make a better version that fixed its problems and developed a more durable digital asset made just for making payments.
The CTO of Ripple stated that XRPL started out in 2011 as a duplicate of Bitcoin core, but things evolved over time. This was in response to the X user’s speculation. This is due to the fact that XRPL adopted a new structure and effectively lost some of its Bitcoin-like characteristics.
As the conversation continued, the issue of whether XRPL still uses SHA256, RIPEMD160, and Base58 for addresses arose. In response, Schwartz stated that he thought addresses were still initially run in a way that was comparable to Bitcoin.
A noteworthy development is that Ripple has been named an official partner of the “cross-border payments interoperability and extension taskforce,” a section of the Committee on Payments and Market Infrastructures of the Bank for International Settlements (BIS). This information was provided by the cryptocurrency exchange Uphold.
