Crypto Author Challenges CoinMarketCap’s XRP Supply Calculation, Calls for Fairer Accounting
- Panos Mekras states that all of the XRP supply has been in circulation since 2012.
- He asserts that XRP was never designed for banks but to disintermediate financial institutions.
- Investors express frustration over price stagnation and shifting narratives around XRP’s utility.
Crypto author and co-founder of Anodos Finance Panos Mekras has addressed what he calls a major misconception about XRP’s circulating supply and its original intended use.
In a tweet, Mekras argued that all 100 billion XRP were created and put into circulation in 2012 when the XRP Ledger (XRPL) officially launched. Contrary to popular belief, he asserted that there has never been any inflation of XRP, meaning no new tokens have been created beyond the initial supply.
The Truth About XRP’s Circulating Supply
Mekras explained that the XRPL, unlike Bitcoin, doesn’t rely on mining or Proof-of-Work (PoW) to distribute its tokens. Instead, the three core developers behind it—David Schwartz, Arthur Britto, and Jed McCaleb—initially made XRP freely available through a Genesis wallet, allowing anyone to claim as much as they wanted.
As Ripple Labs (then called OpenCoin) was form…
The post Crypto Author Challenges CoinMarketCap’s XRP Supply Calculation, Calls for Fairer Accounting appeared first on Coin Edition.
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Crypto Author Challenges CoinMarketCap’s XRP Supply Calculation, Calls for Fairer Accounting
- Panos Mekras states that all of the XRP supply has been in circulation since 2012.
- He asserts that XRP was never designed for banks but to disintermediate financial institutions.
- Investors express frustration over price stagnation and shifting narratives around XRP’s utility.
Crypto author and co-founder of Anodos Finance Panos Mekras has addressed what he calls a major misconception about XRP’s circulating supply and its original intended use.
In a tweet, Mekras argued that all 100 billion XRP were created and put into circulation in 2012 when the XRP Ledger (XRPL) officially launched. Contrary to popular belief, he asserted that there has never been any inflation of XRP, meaning no new tokens have been created beyond the initial supply.
The Truth About XRP’s Circulating Supply
Mekras explained that the XRPL, unlike Bitcoin, doesn’t rely on mining or Proof-of-Work (PoW) to distribute its tokens. Instead, the three core developers behind it—David Schwartz, Arthur Britto, and Jed McCaleb—initially made XRP freely available through a Genesis wallet, allowing anyone to claim as much as they wanted.
As Ripple Labs (then called OpenCoin) was form…
The post Crypto Author Challenges CoinMarketCap’s XRP Supply Calculation, Calls for Fairer Accounting appeared first on Coin Edition.
Read More