Exploring the Hidden Realms of the XRP Ledger
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Unveiling the Truth Behind the XRP Ledger Speculations
Within the XRP community, a prominent figure known as XRP Investing has recently addressed circulating rumors regarding a concealed version of the XRP Ledger (XRPL). These speculations include claims that a secret ledger exists where XRP is valued at $1,000. Let’s delve into the details and separate fact from fiction.
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Understanding the Secret Ledger
In a recent social media post, XRP Investing confidently dispelled the myth that a clandestine version of the XRP Ledger facilitates anonymous billion-dollar transactions by banks. While acknowledging the existence of a private ledger, he clarified that it is not a conspiracy. According to XRP Investing, Ripple announced the creation of a ‘CBDC Private Ledger’ in 2021, a private iteration of the XRPL designed specifically for Central Banks.
This private ledger, built by Ripple, serves the unique needs of Central Banks, emphasizing privacy, compliance, and control. It enables these institutions to issue Central Bank Digital Currencies (CBDCs) without revealing sensitive data or utilizing XRP. The private ledger is tailored for wholesale and retail digital currency, distinguishing it from public crypto trading.
XRP Investing further explained that Ripple has officially confirmed the existence of this private ledger, which operates independently of the public XRPL. Notably, XRP is not employed on this private ledger. In a 2021 blog post, Ripple outlined the pilot phase of this private version of the public, open-source XRP Ledger.
Ripple emphasized that the private XRPL provides Central Banks with a secure, controlled, and flexible solution for digital currency issuance and management. The choice to create a private version stems from the need for greater transaction privacy and currency control than a public ledger can offer. Consequently, Central Banks are likely to opt for implementing their CBDCs on a private ledger, capable of operating on a large scale.
Addressing the XRP Price Discrepancies
XRP Investing also tackled the rumors suggesting a substantial price difference for XRP on the private ledger, where it allegedly trades at $1,000. He highlighted that these claims are mere speculation, which Ripple’s Chief Technology Officer, David Schwartz, has already debunked. Officially, there is no dual pricing for XRP across the two ledgers, and the private ledger does not utilize XRP.
The significance of this development lies in its demonstration that Ripple’s private XRP Ledger is not merely a replica but a genuine application of XRPL technology. According to XRP Investing, this positions Ripple at the forefront of future CBDC infrastructure, potentially boosting XRP adoption if banks choose to use the native token for transactions.
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