The chief technical officer of San Francisco-based Fintech firm Ripple indirectly criticizes XLM (Stellar).
XRP is the native token of the Ripple company. Ripple is a San Francisco-based Fintech firm, which uses XRP token liquidity to facilitate cross-border payment facilities for global businesses under a decentralized ecosystem. The backend XRP ledger of Ripple is based on blockchain technology but the whole Proof-of-stake (POS) power support to its blockchain comes from the company, which means the XRP ledger blockchain is a centralized blockchain network, where Ripple is the centralized authority.
David Schwartz is CTO at Ripple and he is one of the original architects of the XRP Ledger. Before Ripple, Schwartz was Chief Technical Officer for WebMaster Incorporated, a Santa Clara software developer. Schwartz never misses the chance to poke rival project Stellar (XLM).
On 7 August, On commenting on a Twitter post with Connecticut he said “XRP • XLM” license plates, he noted that the dot separating both tickers should have been replaced by an”.
This tweet by Ripple’s CTO brought smiles to the crypto Investors, who know very well about the creators of the Ripple & Stellar crypto project.
Jed McCaleb is the founder of the Stellar crypto project and also he was one of the dominant contributors to the Ripple project (in the initial phase).
Due to some disagreement, McCaleb left the Ripple project to create a separate crypto project. To leave Ripple, McCaleb secured a total of 9 Billion XRP tokens for his contribution to the project.
In the middle of last month, McCaleb sold almost all of his XRP holdings.
Due to the selling of high amounts of XRP tokens by the Stellar founder, XRP crypto traders were facing an unusual downfall in the price of XRP tokens. But now all these possible fears has been gone.