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David Schwartz Ripple CTO Handles the Issue of Missing XRP Transactions from 2012 Saying Ripple Didn’t Create XRP

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The XRP holder’s community believes that XRPLedger, the native token was created by Ripple Labs.

However, today, the CTO (Chief Technology Officer) of the cross-border payment remittance company, David Schwartz denied their claim.

According to Ripple’s CTO, the incorporation of Ripple Labs happened 3 months after the launching of the XRP token.

Then, the community requested the documents of the exchange regarding the XRP blockchain between the periods of June to November 2012.

However, it seems that the records are missing since Schwartz explained that there aren’t any records seen because the company’s binary formats changed.

READ ALSO: Top Crypto Gainers on 19 June: SHIB, KAVA, XRP, DOT, Ecoterra, Deelance, AiDoge, And Launchpad XYZ

The Origin of XRP

David Schwartz, Ripple’s CTO highlights how XRP came into existence.

Even as the majority of the XRP community believes that XRP was given birth to by Ripple Labs, Schwartz counters their belief.

According to the CTO, XRP wasn’t created by Ripple Labs, but by 3 engineers.

He further said that the XRP token was first launched and 3 months later, Ripple Labs was then incorporated.

Furthermore, the CTO stated that 3 engineers, namely, Arthur Britto, Jed McCaleb, and David Schwartz himself started the development of the XRPLedger back in 2011.

He said that the 3 engineers aimed to enhance Bitcoin and develop a sustainable token that is specially created for payments.

 Why did the Transaction Documents for the 1st 6 Months Of 2012 Disappear?

 According to the Chief Technology Officer, back in 2012, XRPLedger passed through a change in its binary formats.

Just a few months after that, Ripple Labs was incorporated.

Schwartz further says that “since the formats changed, the tools which were updated couldn’t understand then.

As a result, we just threw away the previous data.

Although there may be 3rd parties who may have kept copies, I’m not aware of anyone”.

As a result of the change, the creators of the blockchain couldn’t save any document of the transaction history from June 2012 to November of the same year. Rather, the company started afresh.

Meanwhile, no 3rd party has come forward as yet to present any document about the missing period.

Since June 13 following the release of the Hinmans documents in the lawsuit between SEC and Ripple, the XRP, the XRPLedger’s native token has been under surveillance.

Even, the price of XRP experienced an increase in volatility in response to the ongoing legal action.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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