Ripple CTO Addresses Missing Genesis Block on XRP Ledger
David “JoelKatz” Schwartz, the Chief Technology Officer (CTO) of Ripple Labs, has responded to community questions regarding the missing genesis block on the XRP Ledger. Schwartz took to social media to address the concerns raised by a community member about the atypical beginning of the XRP ledger.
Questioning Transparency and Comparing to Ethereum
A community member expressed doubt about the transparency of the XRP ledger and asked if any other blockchain had lost its genesis block. In response, Schwartz compared it to Ethereum’s genesis block, pointing out that Ethereum does not publicly record transactions before its official launch.
The Uniqueness of Genesis Blocks
Schwartz highlighted a transaction involving 2,622 ETH that moved over $6 million on August 3, 2016, and asked where that ETH originated from. He emphasized that there is no transaction explaining it and argued that the choice of what to consider as the genesis block is arbitrary.
Differing Opinions in the XRP Community
Another community member disagreed with Schwartz’s explanation, citing transactions demonstrating the transfer of 40,000 ETH during Ethereum’s genesis block. However, Schwartz clarified that there was no source for those transactions in the public blockchain and that the decision regarding the genesis block was made to obscure fund sources.
Arbitrary Decisions and Lost Transactions
Schwartz asserted that decisions regarding genesis blocks are arbitrary, including XRPL’s beginning at ledger 32,569. He confirmed that the XRP Ledger’s Genesis ledger had no transactions but included 534 lost transactions in the initial 32,570 ledgers.
Hot Take: Ripple CTO Explains Missing Genesis Block on XRP Ledger
The Ripple CTO, David Schwartz, has addressed concerns about the missing genesis block on the XRP Ledger. He compared it to Ethereum’s genesis block and emphasized that the choice of what to consider as the genesis block is arbitrary. Schwartz also clarified that there were no transactions in the XRP Ledger’s Genesis ledger but acknowledged the presence of lost transactions in the initial ledgers. This discussion sheds light on the complexities surrounding genesis blocks and highlights the need for transparency in blockchain networks.
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