Ripple CTO Clears Controversy Around XRP and Ripple Naming

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David Schwartz, the CTO of Ripple, has clarified the ongoing misunderstanding about the distinction between XRP and Ripple. While they share a common origin, these two entities are frequently confused and mistakenly treated as being the same thing. This misconception has persisted for quite some time within the XRP community.

Bill Morgan, a community leader and lawyer, brought up the topic at hand during the discussion when he pointed out an error on the Australian Crypto Convention’s website, labeling XRP as Ripple. This mistake led to a more extensive debate among participants, exploring the background of the naming mix-up.

David Schwartz, a significant contributor to the creation of XRP Ledger and presently the CTO at Ripple, explained that the names for certain aspects of their technology were chosen before the concepts of ICOs (Initial Coin Offerings) and private blockchains became popular. He stressed that there was no intentional confusion, and steps were taken to distinguish between XRP (the digital asset) and Ripple (the company).

“The company’s solitary choice to appropriate the term ‘Ripple’ for their own use from the protocol and network has caused the issue at hand. Looking back, this decision seemed ill-advised with foreseeable negative repercussions.”

— 𝙽 𝙸 𝙺 𝙱 (@nbougalis) April 9, 2024

Nik Bougalis, ex-Director of Engineering at Ripple, shared his perspective on the naming dispute. He believed that the controversy arose due to Ripple’s unilateral choice to brand themselves using the name “Ripple,” which originally belonged to the protocol and network. Bougalis criticized this decision, arguing that the negative outcomes were predictable.

XRP and Ripple have a common past, starting out as “ripples” before developing into separate entities. While Ripple concentrated on creating enterprise blockchain technologies, XRP grew into a prominent cryptocurrency with its own thriving ecosystem.

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2024-04-10 11:23