- David Schwartz clarified that Ripple by no means held an ICO for XRP, with all 100 billion tokens allotted to the Genesis ledger at launch.
- He emphasised the XRP Ledger’s decentralization, noting over 1,000 nodes and 100+ unbiased validators not managed by Ripple.
- Schwartz confirmed Ripple’s RLUSD stablecoin is issued natively on XRPL, refuting claims it depends on Ethereum infrastructure.
Ripple’s CTO, David Schwartz, has lastly damaged his silence after feedback from Custodia Financial institution CEO Caitlin Lengthy stirred the pot about Ripple’s previous and current. Talking out instantly, Schwartz addressed what he calls “misunderstandings” about XRP’s origins, its stage of decentralization, and whether or not Ripple is leaning on Ethereum for its stablecoin.
No ICO, No Crowdfunding—Simply the Genesis Ledger
First off, Schwartz shot down the concept that Ripple ever held an ICO for XRP. Again when the community went dwell, XRP’s worth was actually zero, and the total 100 billion provide was positioned within the Genesis ledger account. “Ripple didn’t conduct an ICO,” he stated flatly, calling out Lengthy’s declare as merely flawed.
Backing him up was well-known XRP Ledger validator @Vet_XO, who reminded everybody that Ripple’s method was way more clear than Ethereum’s early token sale, the place Bitcoin was used to distribute ETH. Briefly—no crowdfunding, no public sale, no capital increase from buyers at launch.
Decentralization Isn’t Only a Speaking Level
Critics have lengthy urged Ripple nonetheless “controls” the XRP Ledger. Schwartz, nonetheless, factors to the open-source nature of the community and its validator variety as proof in any other case. Proper now, the ledger runs on over 1,000 nodes and 100+ validators, none of that are instantly beneath Ripple’s thumb. Anybody can spin up a node, be a part of validation, and even fork the code.
This isn’t simply idea—@Vet_XO backed it up, stressing that Ripple holds no kill change over the community. In Schwartz’s view, this makes the centralization narrative extra fantasy than reality.
Stablecoin Issuance Stays Native to XRPL—Not Ethereum
Caitlin Lengthy additionally urged Ripple’s stablecoin plans have been in some way tied to Ethereum. Schwartz rapidly pushed again, clarifying that RLUSD—the agency’s USD-pegged stablecoin—is issued natively on the XRP Ledger, not on Ethereum. Ripple Funds, he added, continues to be firmly rooted in XRPL infrastructure.
Vet went a step additional, noting that Ethereum’s early fundraising mannequin couldn’t be extra completely different from Ripple’s origins. By retaining its stablecoin and cost rails in-house, Ripple reinforces its dedication to XRPL because the core of its ecosystem.
Briefly—no ICO, no hidden Ethereum dependency, and a community that’s way more decentralized than some give it credit score for. Schwartz’s message is evident: the XRP Ledger’s basis hasn’t modified, and Ripple’s sticking to it.