2024

David Vance

Arthur

April

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Ripple's Chief Technology Officer, <a href="https://u.today/ripple-cto-joins-xrp-burn-conversation-what-was-said" rel="noopener noreferrer nofollow">David Schwartz</a>, recently found himself at the center of speculation about his personal wealth. Amid conjecture about his financial status, Schwartz has stepped forward to clarify that he is not yet a billionaire.
Schwartz, known for his transparency and engagement with the community, addressed the speculation, debunking any myths about his wealth. To back up his claims, the Ripple CTO shared a screenshot of a <a href="https://twitter.com/JoelKatz/status/1779745401572315463" rel="noopener noreferrer nofollow">tweet </a>from 2021 in which he stated that he was not yet a billionaire, reaffirming his current stance.
<blockquote>
 Still not.<a href="https://t.co/DSaJrjisz4" rel="noopener noreferrer nofollow">https://t.co/DSaJrjisz4</a>— David "JoelKatz" Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1779745401572315463?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 15, 2024</a>
</blockquote>
Despite his significant contributions to Ripple and the broader XRP Ledger ecosystem, Schwartz's revelation highlights the reality that not all industry pioneers have amassed vast fortunes.
Schwartz was one of the original architects of the XRP Ledger. In 2011, three engineers who had previously written code for the Bitcoin blockchain — David Schwartz, Jed McCaleb and Arthur Britto — began developing the XRP Ledger to create a blockchain that was more suitable for hyper-efficient value movement, with a focus on transaction speed and scalability.
When the <a href="https://u.today/ripple-cto-reveals-major-xrpl-feature-amid-stablecoin-excitement" rel="noopener noreferrer nofollow">XRP Ledger</a> was deployed shortly after, the code automatically generated 100 billion XRP, with the code base requiring that no new XRP be created.
In September 2012, Arthur Britto, Jed McCaleb and Chris Larsen founded Ripple (then known as NewCoin), and the XRP Ledger's founders donated 80 billion XRP to the company. Arthur Britto, Jed McCaleb and Chris Larsen together received 20 billion XRP.
Ironically, at the time, Schwartz chose a salary and a 2% share in Ripple over the XRP cryptocurrency, which he helped create. Although he later highlighted that choosing a share in the company over XRP was probably a "pretty big" mistake: he could have received around 500 million XRP tokens, which would have been worth a fortune at the peak of XRP's rally.
Schwartz cited the probable reason for his decision as that he is just inherently risk averse, although he wishes he were less so.
With Ripple's current worth and XRP's market capitalization of $28.46 billion, Schwartz’s net worth might be estimated to be in the millions.

Ripple CTO Ends Speculation on Worth of Crypto Holdings

U_Today

Ďalšie články zverejnené 15. 4. 2024

How to Make $1,000 a Day Using CurrencyMiner Bitcoin Cloud Mining

German federal bank to offer crypto to institutional and corporate clients

Bitcoin's 8% Drop Past Week Led To $83M Net Outflows In Spot Bitcoin ETFs

Satoshi-Era Whale Awakens with Millions in Bitcoin After 14 Years of Anabiosis

Filecoin Foundation launches Chinese legal inquiry into STFIL incident

Navigating the Waters of Bitcoin's Halving 2024: Expert Insights and Strategies

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!