Oh, the debates that just keep on giving! The mystery of the missing XRP ledgers is back again, popping up like that stubborn pimple the day before prom. We’re talking about the first 32,569 ledgers—poof! Vanished. Nada. Some folks think this screams “shady business,” especially since XRP is trying to be the cool U.S. reserve asset despite its premined supply.
Enter Ripple’s CTO, the illustrious David Schwartz, who decided it was time to play referee. He explained that all accounts are actually alive and kicking in ledger 32,570, the earliest one you can still peek at.
So, functionally? Zilch is lost. But hey, who doesn’t love a bit of drama and speculation?
Once upon a time, in the early days of the XRP Ledger, someone goofed. Ledgers disappeared. Lost. Kaput. But no worries, nothing broke. It’s like dropping your ice cream but still having the cone.
You see, unlike Bitcoin, which needs its full history to keep track of things (because who doesn’t love tedious record-keeping?), XRP and Ethereum just summarize their states in each new ledger. No need to call Scooby-Doo to solve the mystery.
“So why do we keep hearing about these ‘missing ledgers’ if everything’s on record at 32570?”
Well, because some folks love throwing jello at walls, hoping something will stick.
“And why didn’t you just start over?”
The real reason? We didn’t want to lose more history—Duh!
— David “JoelKatz” Schwartz (@JoelKatz) January 29, 2025
Some say it’s not just a tech glitch. These missing ledgers are a red flag for transparency and those premined goodies.
Bitcoin fans argue that their cherished full history gives them the upper hand. Ripple’s CTO clapped back, saying they didn’t know this ledger would become “the” ledger stream. If they had restarted, even more history would have done the vanishing act. No point in hitting the ‘reset’ button.
XRP runs on a peer-to-peer setup. Validators chat through a gossip protocol, passing messages like high school rumors, sans direct connections. And guess what? This system still works! So practically, missing early ledgers? Big whoop. It changes bupkis.
But perception, my friends, that’s a whole different kettle of fish. 🎣
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2025-01-30 13:29