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Home / argentina / Ripple Labs reported a "vague" target of 255 million XRP | CriptoNoticias

Ripple Labs reported a "vague" target of 255 million XRP | CriptoNoticias

There are discrepancies between Ripple's statements and the statistics registered in the XRP block chain. In general, they are about 255 million XRP difference. According to the analyst chain and CoinMetrics, the evaluation of the delivery program and the custody system, there are several inconsistencies regarding the issuance of new reports by XRP and Ripple on the subject.

CoinMetrics conducted this study after adding statistics and information from XRP to version 3.0 of CM Network Data Pro, making sure that it knows the characteristics and features of its block chain and records for its transactions. The report was published on May 16th.

The investigation allows to check several irregularities associated with the total number of circulating XRPs on the market and the process by which more XRPs were added to that figureCentral to all this is the Deposit Guarantee Scheme (cumulative), the premiere of Ripple in March 2017

The tool allows you to block a certain quantity of XRP for a specified time or until certain conditions are met. then, the company announced the blocking of the 55 billion XRP owned by Ripple in this warranty depositto control the movement of crypto-roll on the market.

We will use the guarantee deposit to establish 55 XRP 1 billion contracts that will expire on the first day of each month, from months 0 to 54. […] Then we will return everything that is not used at the end of each month. For example, if 500 million XRPs remain unspent at the end of the first month, those 500 million XRPs will be placed in a new escrow account that will expire in month 55.


However, these figures do not match what is recorded in the XRP block circuit.

Irregularities with deposit deposits

First, the "passive queue" (the difference between the released XRP billions and the one spent) is applied differently than advertised. Similarly, Ripple announced the release of up to 200 million less than what is reflected in the block chain.

A total of 255 million XRP, equivalent to more than $ 90 million, at current market prices.

While each quarter Ripple publishes a report detailing its detention activity, CoinMetrics explained that in two reports (Q3 2018 and Q1 2019), Ripple mistakenly reported the amount of XRP returned to the trusteeship scheme. In both cases, it ceased to account for 100 million XRPs, hence the difference of 200 million mentioned above.

In addition, other players (who could have a direct connection with Ripple) also released 55 million XRPs from an unknown deposit address that is not linked to Ripple's main deposit account.

This means that the total sum of the XRP has been changed, with the release of the characters differently from the programmed one.

17 detention contracts were exchanged and 43 were created for a total of 17 billion XRPs released from the same and 13.2 billion XRPs returned to the net release detention facility of 3.8 billion XRP


However, these irregularities did not appear to have particularly affected the price of crypto-loop. Currently, XRP's rating has suffered as part of a general correction that crosses the crypto market.

Each XRP is priced at $ 0.37, down 10.23% in the past 24 hours, with BW.com, Upbit and ZBG, mainly against Korean Won and USDT. The crypto-agent has a volume of 3,550,595,297 USD in the last 24 hours.

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