In a recent tweet, the co-founder and CEO at Kraken exchange, Jesse Powell asks David Schwartz, the CTO at Ripple as in how to deem XRP units. He also asks whether to call XRP unit as “ripple” or “ripples”, as it is still unclear how to consider the single XRP unit.
Can you help us..
0.5 XRP = 500,000 drops
1 XRP = 1 ripple (or 1 ripples?)
2 XRP = 2 ripples
Is "ripple" or "ripples" deprecated? Is a singular unit called a ripple or ripples?
— Jesse Powell (@jespow) December 29, 2018
Another tweet by Jesse Powell follows saying that he procured the answer to this concern. Moreover, he uploads a snap of an investor update searching back from January 2013. During that time, Ripple considers that the word ripple with small caps will denote the ripple network. On the other side, the term Ripple with large caps will denote Ripple currency or second word as XRPs.
On Twitter, one user named Nik Bougalis also answers that the asset name is similar to its three-letter “ISO-4217” compliant code. If that is the case, then 1 XRP = 1 XRP.
Powell also wanted to ask about Ripple Labs, do they have an official position on the same matter or not. Another user on Twitter, Tiffany Hayden replies to a comment by Cory Johnson, basically Chief Market Strategist at Ripple by posting a link. He says that we are currently running in 2018 and neither Ripple is XRP now XRP is Ripple.
It's 2018 now. Ripple is not XRP. XRP is not Ripple.
— Cory Johnson (@CoryTV) November 19, 2018
As we see that Twitter now is full of XRP talks. Moreover an XRP supporter seems to be very active in social network. The decision to modify the Ripple’s name to XRP was because the company and the community have worries that XRP might count under a security. The U.S. SEC already considers Bitcoin as a commodity.
- Bitcoin (BTC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Augur (REP)
- Monero (XMR)
- Tether (USDT)
What are your thoughts regarding this confusion in crypto community? Share your thoughts in our comments section.