Ripple CTO David Schwartz took to Twitter to clarify 10 common misconceptions about XRP, the cryptocurrency of the Ripple payment network.
Schwartz stated that these are his views and no one can speak for XRP.
Schwartz Speaks About Urban Legends About Ripple
Schwartz started by addressing the idea that XRP could be pegged to gold, silver or any other asset, and said that while theoretically possible, no one would want to do so.
Similarly, he rejected the idea that XRP could be a stablecoin, pointing out that if someone wanted to issue a stablecoin, they could do so without affecting XRP.
Schwartz also commented on the statement that RippleNET is completely different from the XRP Ledger:
“RippleNet is an enterprise payment system that enables XRP Ledger to be used as a source, destination or bridge for corporate payments. RippleNet is a private network that removes barriers to XRP adoption and is based on early versions of the InterLedger Protocol (ILP).
XRP and the XRPL really are "what you see is what you get". If you're imagining that there's some massive secret, you're imagining. You can imagine anything about anything. Imagining things doesn't justify believing them. Be excited about is actually there or build things. 13/13
— David "JoelKatz" Schwartz (@JoelKatz) April 8, 2023
Some Ripple supporters believe in some conspiracy theories about XRP. One of them was that there was a link between the ISO 20022 standard and XRP. Schwartz responded to these allegations as follows:
“ISO 20022 is a communication standard for payments, while XRP is a cryptocurrency. There can certainly be projects that use both, but there is no real natural intersection between them.”
However, Schwartz stated that the Ripple network does not contain any hidden features and does not contain any features other than what people can see.
*Not investment advice.
