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Kraken seems to be confused on Ripple and how it calls the XRP digital resource. The crypto community has been involved in a discussion about how to name the second largest virtual currency. Some call it Ripple while others call it XRP. Others called it Ripples.
Kraken Confused About XRP; Or Is It Ripples?
Jesse Powell, co-founder and CEO of Kraken, has generated controversy in space after asking David Schwartz how to call each XRP unit. David Schwartz is the head of technology at Cheif Technology in Ripple Lab (CTO).
A few days ago, on Twitter, Jesse Powell wrote how to consider every single XRP unit.
"Ripple or ripples are deprecated? A single unit is called ripple or ripples?" Wrote Powell.
@JoelKatz
You can help us..
0.5 XRP = 500,000 drops
1 XRP = 1 ripple (or 1 ripple?)
2 XRP = 2 ripples"Ripple" or "ripples" are deprecated? Is a single unit called ripple or ripples?
– Jesse Powell (@jespow) 29 December 2018
In another tweet, he said he found the answer to this question. He has released a Ripple Investor Update dated January 13th. In this update, it is possible to see that Ripple Labs mentions that ripple with a small hood is used to indicate the wavy net. At the same time, Ripple with a large hood is used to denote the Ripple or XRP currency.
Following this logic, Powell states that ripple is the protocol and Ripple is the currency used at the top of this protocol.
However, many other users have responded by saying that each XRP should be considered as XRP. For example, Nik Bougalis, a cryptographer and the software engineer, said that the asset's name is the same as the three-letter ISO-4217 code.
I'm not @JoelKatzbut my position is that the asset's name is the same as its three-letter ISO-4217 code.
So:
0.5 XRP = 500,000 drops
1 XRP = 1 XRP
2 XRP = 2 XRP
…– Nik Bougalis (@nbougalis) 29 December 2018
However, Powell replied asking if there is an official response from Ripple Labs. Tiffany Hayden, another supporter of XRP, replied to the link to Tweet uploaded by Cory Johnson, in which he mentions that in 2018 Ripple is not XRP and XRP is not Ripple. Cory Johnson is Ripple Chief Market Strategist.
A few days ago, Kraken launched margin trading for Bitcoin Cash (BCH) and XRP. With the addition of these two new virtual currencies, there are now 8 resources available for margin trading.
Until now, Schwartz has not answered Jesse Powell's question.
At the time of writing this article before the end of 2018, XRP is the second largest digital currency with a market capitalization of $ 14.67 billion. Each XRP can be purchased for $ 0.359.
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