Leonidas Hadjiloizou, an XRP enthusiast who manages XRParcade, alluded to this via his official Twitter account a few hours ago. He intentionally made the cryptocurrency exchange in question anonymous.
Leonidas Hadjiloizou shared this, “This introduction to XRP from an exchange that claims to have a nine-digit ($) daily trading volume left me speechless.”
– Leonidas Hadjiloizou (@LeoHadjiloizou) April 9, 2020
Read the introduction to XRP as written by the Crypto exchange below:
“RippleNet offers a unique, frictionless solution for global payments. Rather than a constellation of disparate technologies, unstandardized communications and centralized networks, RippleNet is a unique global network of banks that send and receive payments via Ripple’s distributed financial technology – providing real-time messaging, clearing and settlement of transactions.
“RippleNet is a decentralized network based on an agreement between Ripple and the participants in the network – all of whom use the same technology and adhere to a consistent set of payment rules and standards.”
As expected, the update sparked many reactions, as many questioned the total supply and total traffic figures revealed by the exchange.
See a reaction from an XRP enthusiast below:
“I haven’t seen an exchange do it yet, but it goes too far.” I know Ripple is not necessarily responsible for all XRP ads, but wherever they are, I hope Brad Garlinghouse will push his team to ensure the accuracy and consistency of the information.
“If you read the XRP information on 10 exchanges, you will have 10 opinions on what XRP is. I’m not saying it is Ripple’s responsibility to solve this problem; and yet, they should do it, being the most a big stakeholder in XRP and with the resources and leverage to do so. ”
XRP is not centralized – Marcus Tracker
Ripple’s senior vice president (SVP) of customer success, Marcus Treacher, said contrary to claims by some circles within and without the XRP community, which describes XRP as a centralized digital token.
Marcus Treacher, while speaking with Finance Magnates, said that Ripple’s continued growth is closely linked to the company’s quest to take advantage of the international transaction infrastructure market.
He said, “A big part of our success has been keeping an eye on solving a specific problem regarding cross-border payments.”
Treacher further explained that “Ripple is the only blockchain company whose customers use its products commercially for cross-border payments.”
Regarding criticism that XRP is centralized, he said, “XRP is not centralized”adding that “It is a decentralized, open source digital asset, and the XRP Ledger is based on an inherently decentralized, democratic consensus mechanism – which means that no party can control it, not even Ripple.”
He also said, “Ripple is a stakeholder in XRP and therefore is an interested party in its success, it would not make sense as a company to disrupt the XRP Ledger or XRP.”
In conclusion, he stressed that “The XRP held by Ripple is locked into cryptographically secure escrow accounts in which one billion XRPs are communicated to Ripple each month. This provides an upper limit on the amount of new XRP that can be released, and any additional XRP surplus each month is placed in a new receiver. “