Accéder au contenu principal

Who Owns XRP Ledger? Hint: It’s Not Ripple

XRP has always been subject to claims of centralization by Ripple. The payment company, however, has always rejected this claim, citing the open-source and decentralized nature of the XRP Ledger. Recent court documents have provided clarity on the confusion to clear doubts about XRP’s centralization.

Who Owns The XRP Ledger?

A federal judge in the United States recently rejected the Securities and Exchange Commission’s request for permission to pursue an interlocutory appeal on Ripple’s partial win. According to the ruling, the SEC did not give enough evidence to warrant a revision in the ruling.

Interestingly, court documents on the rejection seem to have cleared up confusion regarding Ripple, XRP, and the XRP Ledger. This confusion stems from the close affiliation between Ripple and XRP, as the payment company is the largest holder of the coin.

While Ripple created and originally developed the XRP Ledger, court documents show the XRP Ledger is an open, decentralized system that the payment company does not own or control.

The XRP Ledger code is open for developers and validators to build on, not Ripple alone. The SEC also failed to prove enough connection of the XRP Ledger to Ripple.

“Ripple does not own the XRP Ledger, which is “based on open-source software; anyone can use the ledger, submit transactions, host a node to contribute to the validation of transactions, propose changes to the source code, or develop applications that run on the ledger,” court documents said. 

Total crypto market cap currently at $1.06 trillion. Chart: TradingView.com

Although the ruling has clarified the confusion, all it has done is restate the position of the XRP community. It would seem at this point, that the regulator is one of the few who still believe that the XRP Ledger is controlled by Ripple. The SEC-Ripple lawsuit is now set for a trial scheduled for April 23, 2024.

Controversies And Innovation: Ripple’s Dynamic Year in Crypto

A similar accusation was recently brought against Ripple by some members of the crypto community. According to the allegation, recent changes in the XRPL contained a secret clause that makes “The BuyBack” of XRP possible by Ripple. However, this claim has since been dismissed. 

Ripple has had a very eventful year, as the firm has been working hard to solidify its leadership position in the cryptocurrency sector by developing innovative payment solutions.

Ripple recently won awards at the Juniper Research’s Future Digital Awards for Fintech & Payments 2023 for its US Dollar-backed Palau Stablecoin on the XRP Ledger

Ripple was recently mentioned in the context of a potential relationship by the director of the Australian Freight & Trade Alliance (FTA). The FTA is the most influential organization in Australia’s international supply chain industry.

Featured image from Times Tabloid




Source link

The post Who Owns XRP Ledger? Hint: It’s Not Ripple appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Hong Kong SFC Raises Alert Over MEXC Imposter

The Hong Kong Securities and Futures Commission (SFC) has issued an alert on a suspected fraudulent platform impersonating the presence and operations of a popular cryptocurrency exchange MEXC. This development comes from a joint operation between the Hong Kong regulator and the local police force aimed at uncovering illicit activities of virtual asset trading platforms (VATPs). SFC Warns Hong Kong Citizens Of Fraudulent Trading Platform According to an announcement on February 9, the SFC is warning crypto enthusiasts and investors of an ambiguous trading platform that operates under the name “MEXC.” In a joint investigation with the Hong Kong police, the securities market regulator discovered that “MEXC” has lured several investors into becoming members of group chats in which it claimed to offer “free investment advice.” Through this medium, “MEXC” was able to direct unsuspecting investors into depositing funds through fraudulent websites in order to purchase cryptocurrencies. Th...
Enregistrer un commentaire
Lire la suite

What’s In Store For Bitcoin With 85% Of Holders In Profit

Amidst a renewed wave of optimism sweeping through the broader cryptocurrency landscape, the resurgence of Bitcoin (BTC) to the pivotal $37,500 price threshold has become a catalyst for positive shifts. At present, a staggering 85% of Bitcoin holders find themselves in a profitable position, a testament to the resilience and potential of the leading cryptocurrency. Encouragingly, key indicators hint at the likelihood of this percentage expanding in tandem with Bitcoin’s upward trajectory. Making Money With Bitcoin As the market plummeted from its all-time high in November 2021, the amount of Bitcoin supply in profit has reportedly hit levels last observed two years ago, according to Glassnode. The analytics service also stated that the amount of unrealized profit contained in these currencies is still very small. Based on the latest figures from blockchain analytics website IntoTheBlock, some 85% of Bitcoin holders are profitable at the current price of the first cryptocurrency,...
Enregistrer un commentaire
Lire la suite

Instagram Is Experimenting With an Option To Add Files to DMs

What if you could send files in your IG DMs? That may soon be an option, with app researcher Alessandro Paluzzi uncovering this process in the back-end data of the app. As you can see in this example, Instagram’s experimenting with a new option that would let you add files to your messages as attachments. Which is not overly surprising. You can already send documents within WhatsApp , and on Messenger (in limited capacity), and with Meta still working to integrate all of its messaging platforms into a single system , it makes sense that it would also need to replicate the functionality of each, to ensure full parity. So, basically, every function within Messenger, IG Direct and/or WhatsApp will eventually be available in each other app, as that will then enable Meta to link them all together into a singular messaging system. As such, I do think this is coming, and is more than just an experiment, which will provide expanded functionality within your IG DMs, and could be handy...
Enregistrer un commentaire
Lire la suite