The XRP Ledger, known for its speed, security, and low transaction fees, is facing a pivotal moment as Ripple emerges as its biggest threat. Speculations within the cryptocurrency community question the independence of the initiative, with Onledger claiming that Ripple is jeopardizing the XRPL by hiding XRP sales through an Ethereum Virtual Machine sidechain.
The Ripple vs. XRP Ledger Saga
Onledger’s bold accusations have sparked controversy, alleging that Ripple’s adoption of hooks and EVM sidechains poses a threat to the XRPL. The post suggests that Ripple’s actions are a strategic move to wrap and sell XRP anonymously, a practice that could not be achieved with native smart contract capabilities.
In response, Ripple’s CTO David Schwartz has refuted these claims, stating that selling tokens on exchanges provides ample flexibility and less responsibility than on blockchains. Despite Onledger’s insinuations, Schwartz maintains that exchanges do not grant Ripple complete anonymity, citing past legal battles with the SEC over XRP’s classification as a security.
Navigating the Crypto Terrain
As the debate rages on, Schwartz addresses concerns about Ripple’s transparency in the crypto space, emphasizing that while their identity may be unknown to some, exchanges are well aware of their operations. The evolving landscape of digital assets and regulatory challenges continue to shape the future of Ripple and the XRP Ledger.
Featured image from iStock, chart from Tradingview.com
