Ripple CTO Bullish on Bitcoin But Has Been Selling His Stash for Years

David Schwartz, chief technology officer at Ripple, recently shared that he is still bullish on bitcoin but is currently selling his BTC stash.

On being asked by Adam Back, co-founder and chief executive officer of the blockchain technology company, Blockstream, “aren’t you pro-BTC and converting XRP into Bitcoin?” Schwartz shared,

“Nope. I’ve been slowly selling bitcoin for the past several years.”

And the reason behind selling bitcoin is the risk. “I’m still bullish on bitcoin, it’s just the level of risk that has me selling,” he said.

This snippet is from the discussion about who is the pseudo-anonymous bitcoin creator Satoshi Nakamoto.

Stop Searching for Satoshi; We are all Satoshi

A Twitter user declared Adam Back as Satoshi Nakamoto to which the cryptographer replied with a simple “not me.”

Some also see Hal Finney, a cypherpunk and early Bitcoin contributor and Nick Szabo, a cryptographer who designed BitGold, as the pseudo-anonymous creator. Both are among the top runners for being Satoshi.

“FWIW they both said it wasn’t them also. We’ll never know – many cypherpunks had no social media footprint, and anon posts. Probably a digital ghost, who burned the nym to be safe,” said Back about Finney and Szabo being Nakamoto.

“Bitcoin is better as a decentralized digital commodity without a founder. We are all Satoshi,” he added.

This is where software engineer and Director at Ripple, Nik Bougalis, came who agreed with Back about Bitcoin being better without a founder.

“Abandoning the Satoshi Nakamoto persona and leaving Bitcoin to the world was a brilliant move,” he said.

A Ripple enthusiast also feels Ripple CTO Schwartz could be Satoshi Nakamoto. Still, Bougalis dismissed this, stating Schwartz has publicly denied it and that “his code & writing style simply don’t match Satoshi’s.”

And, “unfortunately” for Schwartz, he “didn’t find out about bitcoin until 2011.”

Schwartz chimed in to say that he thinks it’s plausible that instead of just an individual, Satoshi was a small group of people.

And that’s where Schwartz shared that he doesn’t have millions of Bitcoins, but he hasn’t lost the keys to his BTC holdings either, which he has been slowly selling for the past some years now.

“Bullish on X but Selling the X? Charlie is that you?,” a user commented on this statement.

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Author: AnTy

The XRP Ledger May Allow Third-Party Asset-Backed Tokens In the Future: Ripple CTO

According to Ripple’s head of tech, David Schwartz, the firm is creating a new feature which will let clients mint new asset backed tokens on its XRP ledger.

Ripple released a press statement explaining that its tech engineers are developing exciting fresh features which will lead to the broadening of the ledger’s functionalities which will also allow third-party users to roll on other cryptos on top of the XRP Ledger network.

While Schwartz was economical on the details of the fresh features, he explained that they will help in rolling on fixed-value tokens within the XRPP Ledger. He explained:

“Stablecoins is the obvious use case, but it’s not just stablecoins it’s essentially assets pegged to some external value.”

CoinDesk reports that such features are present in various blockchain platforms with the most notable one being Tether that operates stablecoin layers on different platforms simultaneously. However, Schwartz explained that asset-backed tokens running on XRP platform will be assured of guaranteed liquidity based on the ledger’s mechanics.

In a previous interview, Schwartz had explained that a entirely collateralized XRP stablecoin can be highly liquid. He added that instead of developing different markets for every virtual asset, the trades will happen in XRP ensuring liquidity of the stablecoin its popularity notwithstanding.

This will not be the first instance that Ripple is venturing into markets outside its settlement business. Xpring, the firm’s investment wing, purchased a decentralized payments platform known as Logos Network late last year. During the acquisition period, Xpring had stated that the new platform would allow Ripple to develop financial products and services on XRP Ledger.

Schwartz explained that the firm’s engineers had realized that the XRP Ledger has properties of algorithms that allow the firm to operate the same way as a decentralized exchange. It is these features that the firm aims to capitalize on and add several aspects which will let users easily offer their own digital assets.

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Author: Joseph Kibe

Ripple CTO Proposes ‘Deletable Accounts’ On The XRP Ledger (XRPL) Via An Amendment Process

A new feature was proposed by Ripple’s CTO David Schwartz in the amendment process of deletable accounts. This feature will allow XRPL accounts to be removed from the ledger and recovers most of the reserve locked in the account to prevent spam.

In the past deleting accounts was impossible as an account always existed, said software engineer Nik Bougalis who is leading the C++ team at Ripple and drafted the spec for deletable accounts. But now, someone that is able to sign a transaction on the account can now delete that.

Amendment Process to Introducing New Features

Schwartz in his latest article, “Amendments: Ensuring Sensible Evolution of the XRP Ledger,” talks about one of the key governance mechanisms that XRPL uses, the amendment process.

Purposely designed and built for broad participation, the amendment system provides a means of “introducing new features to the decentralized XRP Ledger network without causing disruptions.” The system utilizes the core consensus process of the network to approve any changes. Schwartz said,

“The activation of any changes to the XRP Ledger protocol are coordinated by the community through this process.”

The Power to Coordinate Activation of Amendments

Amendments are now assigned to a feature discussed by the community to be introduced to the XRP Ledger (XRPL) which needs 80% support to enable it. The community is then given two weeks to voice their opinion on the amendment and if enabled, those who did not agree to will become ‘amendment blocked‘ —

“a security feature designed to protect applications that depend on XRP Ledger data.”

XRPL, Shwartz explained, is to provide a robust feature for the foundation of the digital asset XRP, in addition, to exchange digital token ad settling payments. Schwartz explained,

“The purpose of this amendment process is to empower the community to coordinate activation of amendments that do have broad support with minimal disruption and to avoid an accidental fork if servers do not agree on network rules.”

Validators can’t activate amendments that don’t have broad support. Previously, support for multi-signing, ledger’s on-chain escrow and payments channel features were enabled by amendments.

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Author: AnTy

Senior Dev And Interledger Protocol Co-Founder Quits Ripple, Will Remain Involved In ILP And Coil

Ripple may be forced to hunt for a new senior software developer after Evan Schwartz tweeted that January 2, 2020 was his last day with the firm. The senior developer has been part of the Ripple team for the past 6.5 years and was among the key resources within this San Francisco based company.

One of the most notable contributions by Schwartz is the Interledger Protocol (ILP). The tech has been an instrumental means to Ripple’s end goal of payment solutions and the Internet of Value vision. This is mainly due to its infrastructure which allows ledger integration based on its open suite protocol.

Ripple has been active in the IoV space and recently acquired Logos, a payment firm at its early stages. The company plans to expand its footprint in IoV through this startup and is optimistic the growth will be tremendous according to its SVP, Monica Long. However, it still uncertain who will be selected to lead the ILP team following the Schwartz exit as it is important in the Internet of Value products.

Schwartz to Maintain Board Position in Coil

Schwartz added that he will remain in the ILP development space through Coil where he is a board member. The platform’s product is a monetization feature that helps content creators earn more value by leveraging blockchain networks. Basically, micropayments are processed for streamed content and paid to the creators who are part of the network. Ripple had earlier on taken part in the Coil seed round where they granted the firm $265 million worth of XRP tokens.

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Author: Lujan Odera

Ripple’s David Schwartz Attacks Bitcoin And Defends XRP From Negative Comments

Ripple's David Schwartz Attacks Bitcoin And Defends XRP From Negative Comments
  • Ripple’s Chief Cryptographer, David Schwartz defends XRP from attacks from Bitcoin users.
  • XRP could be affected by the growth of new permissioned networks and blockchains.

Schwartz Answers Back To Max Keiser

David Schwartz, the Chief Technology Officer (CTO) of Ripple, has defended XRP from negative comments that it receives from the community. In a recent article released by Yahoo, the author quoted the Bitcoin supporter Max Keiser saying that XRP should be worried about the upcoming launch of Facebook’s GlobalCoin.

There are several Bitcoin (BTC) enthusiasts that believe that XRP is the digital currency used by banks and that it does not follow the ethos of the crypto space. Max Keiser wrote on Twitter that Facebook’s stablecoin is going to harm other digital currencies such as XRP, among other altcoins.

Is Ripple A Permissioned System?

About it, Schwartz said that he likes to see opinions about XRP that do not show any evidence of understanding how XRP works. He said that this is just how Bitcoin “minimalist thinking” works.

Schwartz has also talked with other individuals on the popular social media network, including the Twitter user Noryn Syra. The crypto enthusiast wanted Schwartz to admit that Ripple was a permissioned system such as the one that other companies have.

Ripple is currently working in order to provide services to different financial companies, including banks. The goal is to offer them cheaper and fast cross-border payments in a compliant way. At the moment, they have signed partnerships with a large number of companies from all over the world.

There are some companies like Facebook that have a large user base and that are working with blockchain technology. Indeed, Facebook wants to launch a digital currency called GlobalCoin that is expected to help users make cheap cross-border payments and other payments. If that initiative expands, Ripple could be damaged.

Currently, XRP is the third largest virtual currency after Ethereum (ETH) and Bitcoin (BTC). At the time of writing, XRP has a price of $0.42 and a market capitalization of $17.72 billion.

Latest Ripple News and XRP Market Updates

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Author: Carl T