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Top Pundit Claims XRP Was Created By a Group of Super Early Bitcoin Developers

A tweet by Alex Cobb (@AlexCobb_), a prominent commentator in the XRP community, recently reignited a longstanding debate surrounding the origins and purpose of XRP.

In his tweet, Cobb stated, “Fun fact: XRP was created by a group of super early Bitcoin devs, that could see Bitcoin would inevitably hit a scalability ceiling with global adoption. They created XRP as a solution.”

This claim was met with support and skepticism, sparking a discussion about the intent and principles behind XRP’s creation.

Cobb’s Claim: XRP as a Scalability Solution

Cobb’s tweet suggests that XRP was developed by early Bitcoin contributors who anticipated Bitcoin’s scalability challenges. Bitcoin’s limited transaction throughput and reliance on energy-intensive proof-of-work (PoW) mining have been central points of criticism as the network grows.

According to Cobb, XRP was designed to address these issues by offering faster transactions, lower costs, and a more energy-efficient consensus mechanism.

The historical record supports some of this narrative. XRP was created in 2011 by three developers: David Schwartz, Jed McCaleb, and Arthur Britto.

These individuals were inspired by Bitcoin but sought to create a blockchain built on a mechanism other than proof of work (PoW). XRP’s ledger employs a consensus algorithm rather than mining, enabling faster and cheaper transactions.

Dissenting Views and Counterarguments

Cobb’s assertion, however, drew criticism from cryptocurrency community members. Benjamin HODLin, a user on X, contested Cobb’s statement, arguing that the developers’ early involvement with Bitcoin is not explicitly mentioned in XRP’s official documentation. He accused Cobb of misrepresenting XRP’s origins to promote the asset.

Another X user, FiatHawk, criticized XRP’s creation from an ideological standpoint. He argued that XRP was not a solution to Bitcoin’s scalability issues but a project designed to emulate Bitcoin’s success for profit.

FiatHawk claimed that XRP sacrificed decentralization, a core principle of Bitcoin, in favor of corporate control and financial gain. This critique aligns with the broader perception among some Bitcoin maximalists who view alternative cryptocurrencies as departures from Bitcoin’s foundational ethos.

XRP’s Origin

The origin of XRP is neither entirely aligned with Cobb’s narrative nor the critiques of some members of the crypto community. While XRP was created by individuals who admired Bitcoin, it was not a direct extension of Bitcoin development.

Instead, XRP represents a distinct approach to blockchain technology, prioritizing efficiency and accessibility over the decentralization provided by PoW systems.

It is also important to note that the XRP Ledger was designed to facilitate cross-border payments and improve upon existing financial systems, rather than solely to address Bitcoin’s scalability limitations.

Ripple, the company closely associated with XRP, has emphasized its focus on collaborating with financial institutions and regulators, a stance that differs significantly from Bitcoin’s decentralized, permissionless design.

Ultimately, the discussion highlights the complexity of blockchain history and the differing values driving the development of various cryptocurrencies. As the ecosystem evolves, these debates will persist, reflecting the diverse perspectives within the cryptocurrency space.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

 

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over seven years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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