- XRP missing 32,000 ledger blocks from 2012 continues to raise transparency concerns.
- Trump’s crypto reserve announcement fueled debates over XRP’s role and legitimacy.
- Ripple’s CTO attributes the missing blocks to a technical issue, but skepticism remains.
Ex-President Donald Trump’s recent headlines on a U.S. Strategic Crypto Reserve have reminded the public about the issues facing XRP, namely the 32,000 missing ledger blocks. It existed since early days of XRP Ledger back in 2012 when the original 32,570 blocks vanished from the public ledger, raising doubts over transparency and control over the token supply.
The Controversy Around XRP’s Missing Blocks
Its detractors argue that this lost information makes the early token distribution uncertain, with some speculating secret allocations. Ripple’s CTO, David Schwartz, has maintained that a bug caused the loss, noting that it was an unforeseen technical issue and doesn’t affect current ledger balances. This has not, however, satisfied skeptics, especially because Ripple Labs still holds most of XRP’s total supply.
Trump’s addition of XRP to the crypto reserve, along with Bitcoin and other assets, has only fueled the debate. While XRP’s value skyrocketed on the news, Bitcoin proponents questioned its inclusion in the reserve. Of particular interest, economist Peter Schiff questioned XRP’s inclusion in a government-backed reserve.
Despite controversy, XRP remains a key participant in the world of cryptocurrency. With the U.S. government reconsidering its stance towards digital currencies, the focus on XRP’s status and earlier transparency issues will not waver. Whether such inclusion makes it more legitimate or gives rise to further controversy is only to be seen.
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