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Kraken Wade in XRP Cryptocurency Naming Debate


Since Kraken adds XRP margin trading, it seems that it has been included in a discussion of the name Ripple versus XRP that emerged for the first time at the beginning of this year.

It is not clear how the debate began with Kraken, but Kraken tweeted in an obvious answer to a reference to the addition of "Ripple XRP" to the platform and a recent blog post announcing the addition of XRP and Bitcoin Cash (BCH) to its margin trading offer.

There seems to be a little ambiguous, and perhaps the ironic requests to buy "Ripple" shares rather than XRP coins via Kraken.

Some users of the Kraken user community seem to prefer that XRP is simply called XRP, but Kraken claims it is following an industry convention that speaks of coins in terms of protocol, and therefore of assets, just like Ethereum (ETH) or even Ethereum ether!

It is easy to see where the confusion comes from, coins, companies and protocols are used interchangeably, but in general, there is a convention to speak in terms of blockchain followed by the "ticker" of the currency.

The response to Kraken was mixed, with some Twitter followers openly expressing their annoyance with Kraken, or perhaps anyone tweeting for Kraken, suggesting that Kraken might lose the habit of the debate, which continues …

Efforts for distance ripple and XRP

Kraken may have fallen into a much older argument that there should be some distance between Ripple, or Ripple Labs because the cryptocurrency and the blockchain exist by itself.

Ripple himself tweeted in May 2018 and there was a slight change in the brand from Ripple XRP to XRP:

The organizer of the "Symbol XRP" initiative, Alexavier Guzman, said:

"Since XRP does not currently have its symbol or logo, currency is often associated with Ripple's trademark … For this reason, many people believe that XRP is a product of Ripple, and even come to call the ripples of XRP. " "

XRP received its new logo a few weeks later.

It is difficult to see how, or why, XRP could be divided by Ripple. The use of XRP is an important part of Ripple Labs that grows in RippleNet's offering and in the suite of financial software.

Although XRP is not used by Ripple's 100+ financial and banking adopters of its blockchain network, Ripple would certainly want many of them to use XRP for transactions.

At the end of the day, Ripple develops financial products that use XRP and, at some point, owns 80% of the total XRP supply. Ripple Lab still owns about 60 billion XRPs. The success of the XRP coin is inextricably intertwined with Ripple.

Shutterstock foreground image.

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