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Brad Garlinghouse: Ripple Did Not Issue XRP

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Ripple CEO

On the 29th of August, Ripple CEO, Brad Garlinghouse, was a guest at the Stanford Law School to discuss cryptocurrency regulation. He was part of a panel at the University’s radio show known as the Stanford Legal. This show is hosted by Pam Karlan and Joe Bankman. On this day, they were joined by Brad Garlinghouse and Professor Joe Grundfest. The entire session can be found on youtube courtesy of BankXRP.

In the discussion, Brad Garlinghouse once again clarified that the Ripple company did not create, neither issue XRP. Brad is  quoted as saying:

I will correct one thing right out of the gate. Ripple did not actually issue XRP. The XRP ledger is an open source Decentralized Technology…not dissimilar to Bitcoin and some of the creators of the XRP ledger actually had been early engineers that worked on Bitcoin. And they saw some of the scalability problems that Bitcoin was most likely to have…

They speak both from an energy consumption, cost…and some of the other problems. They wanted to build a better digital asset to solve some of these problems.

XRP Is The Most Decentralized

With the above comments, Brad Garlinghouse has once again clarified that XRP is not a security as many crypto enthusiasts have been led to believe. The fact that the technology is open-source, makes the case that the Ripple company simply took it upon themselves to create payment solution products around it.

Ripple CTO, David Schwartz, goes on to explain the inherently decentralized nature of the XRP ledger in a not so old post on Ripple.com. In the post, David Schwartz highlights several factors that make the XRP ledger more decentralized than Bitcoin and Ethereum.

To start, the proof of work evident in the BTC and ETH networks makes it possible for a few miners to take control of the entire network and even dictate the cost of transactions. On the other hand, the consensus protocol of XRP relies on validators that are not rewarded thus making it more democratic and less vulnerable to control by miners.

Another thing is that for any rule change to be made on the XRP ledger, 80 percent of the validators must be active on the network for a 2 week period to continuously support a change before it is applied. This, in turn, means, as the BTC and ETH network become more centralized with time due to miners gaining more power, the XRP ledger is becoming more decentralized due to the fact that the Ripple company is slowly ceding its positions as UNLs (Unique Node List).

SEC Have Not Documented Whether BTC or ETH are Not Securities

Using the facts from David Schwartz’s post, we are reminded of the loopholes in SEC’s Director Hineman’s comments about Ethereum. One thing many crypto-enthusiasts did not notice about his statement, is that there was a disclaimer at the bottom stating that the SEC is not responsible for any private remarks of any SEC employee or commissioner.

Further checking the speech by Director Hineman, we find the following disclaimer at the bottom:

The Securities and Exchange Commission disclaims responsibility for any private publication or statement of any SEC employee or Commissioner. This speech expresses the author’s views and does not necessarily reflect those of the Commission, the Commissioners or other members of the staff.

In conclusion, the comments by Brad Garlinghouse plus the post by David Schwartz have proven that the XRP ledger is the most decentralized in the crypto-verse. Furthermore, the Ripple company did not issue XRP. Adding the disclaimer from the SEC, it is safe to conclude that the FUD around XRP that it is a security, has no basis or foundation.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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