{"id":10980,"date":"2024-02-23T17:54:31","date_gmt":"2024-02-23T15:54:31","guid":{"rendered":"https:\/\/forklog.com\/en\/ripple-cto-reveals-origins-of-xrps-name\/"},"modified":"2024-02-23T17:54:31","modified_gmt":"2024-02-23T15:54:31","slug":"ripple-cto-reveals-origins-of-xrps-name","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ripple-cto-reveals-origins-of-xrps-name\/","title":{"rendered":"Ripple CTO Reveals Origins of XRP&#8217;s Name"},"content":{"rendered":"<p>Ripple&#8217;s Chief Technology Officer, David Schwartz, has shared the story behind the naming of the native token of the XRP Ledger (XRP).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">David Schwartz explains why the currency was named &#8221; <a href=\"https:\/\/twitter.com\/search?q=%24XRP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$XRP<\/a>&#8221;.<\/p>\n<p>X: Not issued by any country<br \/>RP: &#8221;Ripples&#8221;<br \/>= <a href=\"https:\/\/twitter.com\/search?q=%24XRP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$XRP<\/a> <a href=\"https:\/\/t.co\/kOenrcKEGp\">pic.twitter.com\/kOenrcKEGp<\/a><\/p>\n<p>\u2014 EDO FARINA ? XRP (@edward_farina) <a href=\"https:\/\/twitter.com\/edward_farina\/status\/1760859272143946065?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He initially explained the process of forming tickers for national currencies, where a two-letter country code is followed by another letter. For instance, the currency code for the US dollar, USD, is derived from US (United States) and D (dollar).<\/p>\n<p>In the context of assets not belonging to any country, Schwartz highlighted that the first letter of the code should start with X. This rule is applied to the ticker for gold, XAU (Aurum \u2014 gold in Latin).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Some people use BTC for Bitcoin, but those who care about standards prefer XBT,&#8221; added the Ripple CTO.<\/p>\n<\/blockquote>\n<p>According to him, from the early days of development, the native token of the XRP Ledger was simply called &#8220;ripples,&#8221; leading to the abbreviation XRP.<\/p>\n<p>Previously, Schwartz <a href=\"https:\/\/forklog.com\/en\/news\/ripple-cto-criticizes-robin-hood-token-concept\">criticized<\/a> the idea of issuing &#8220;Robin Hood&#8221; tokens based on the community-approved amendment XLS-39. This proposal involves redistributing assets from the top 10% of holders to the bottom 90% at random intervals.<\/p>\n<p>Earlier in February, Ripple researchers <a href=\"https:\/\/forklog.com\/en\/news\/ripple-predicts-significant-shifts-in-cryptocurrency-market-structure\">predicted<\/a> &#8220;significant shifts&#8221; in the cryptocurrency market structure favoring institutional demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple&#8217;s Chief Technology Officer, David Schwartz, has shared the story behind the naming of the native token of the XRP Ledger (XRP). David Schwartz explains why the currency was named &#8221; $XRP&#8221;. X: Not issued by any countryRP: &#8221;Ripples&#8221;= $XRP pic.twitter.com\/kOenrcKEGp \u2014 EDO FARINA ? XRP (@edward_farina) February 23, 2024 He initially explained the process [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1376,112,596],"class_list":["post-10980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-david-schwartz","tag-ripple","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"119","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10980"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10980\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10979"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}