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The XRP has always been surrounded by speculation, has been the subject of much criticism about exactly where XRP is located and is the state of cryptocurrency. There are several experts and analysts who have stated that XRP is not a true cryptocurrency and numerous reasons, including the fact that the token has no mining or data mining capabilities compared to Bitcoin. But unlike Bitcoin, Litecoin, Ethereum and other popular cryptocurrencies, XRP is not extracted but is powered by a simplified blockchain to be fast and reliable.
The CEO of Elpis Investment, Anatoly Castella, said the XRP token is far from the cryptocurrency family due to the fact that:
"Its centralized blockchain and all XRPs have been extracted at the same time, Ripple remembers a Fintech platform that combines the best elements of fiat money and the cryptocurrency blockchain.It is" digital Fiat ", not a cryptocurrency".
After Bitcoin entered the digital and financial market, people who found interest in it were able to access it in two ways: my own or the purchase. The fact that Bitcoin was a decentralized bank and a central bank or parent company did nothing to make it one of a kind and so different from the traditional currencies issued.
There are other known digital currencies and Bitcoins that are known for their unique identity of decentralized currencies and to be able to be mined as gold. This is where XRP becomes the weird among the most popular digital currencies.
As reported by ZyCrypto, most of XRP is held by its parent company, the Ripple Foundation, which is different from other cryptocurrencies. 100 billion units have been produced and 40 billion have so far been made available on the market. The remaining XRP is securely hidden in an intelligent contract that only makes part of it available on a monthly basis.
There is no doubt that XRP was one of the most talked about assets in 2018. Analysts and critics continue to make the avalanche by declaring that the token is a "Centralized currency controlled by its parent company." Craig Wright also did some excavation on XRP calling it a "Security and biggest scam in cryptographic space" which is where the topic of being in the cryptocurrency class begins.
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