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The CTO at Ripple Labs Inc, David Schwartz, has showed amazement at how XRP Ledger has been undergoing transformation since its creation. Schwartz said since 2011, XRP Ledger had changed quickly and dramatically.
The CTO made the comment during the latest Ripple Drop. Schwartz said he was awed by the XRP Ledger’s over one thousand nodes that continues to help move billions of dollars across different borders of the world.
I'm often in awe of how quickly and dramatically the XRP ledger has changed since its founding in 2011. Find out how amendments are made safely to the XRP Ledger in the latest #RippleDrop. https://t.co/1AJucvVBco
— David Schwartz (@JoelKatz) March 1, 2020
Also, in a new developmental update, London-based exchange Luno announced the official landing of XRP token on its platform after two weeks of preannouncement.
The choice of including XRP on the platform was birthed by the vote of the over 3 million users of the platform in a poll.
Luno, in the announcement, said XRP can now be traded with pairs like BTC, ZAR and MYR. Also, the exchange averred that users will be given the opportunity of enjoying 30 days trading discount at the following rate.
XRP/BTC – 0.10% (all pricing tiers) (0% maker fee)
XRP/ZAR – 0.20% (all pricing tiers) (0% maker fee)
XRP/MYR – 0.20%
Brad Garlinghouse says Ripple’s Profitability Is Driven by XRP Sales
The CEO at Ripple blockchain technology has admitted that the sale of XRP is exactly what is driving the profitability of the company.
“We would not be profitable or cash flow positive [without selling XRP],” Brad mentioned as reported by Financial times on Friday.
Brad furthered that taking away all the company’s XRP will make Ripple less profitable.
“Well XRP is one source. I don’t know how to answer that because if you took away our software revenues, that would make us less profitable. If you took away all our XRP, that makes us less profitable. So I don’t think about it as one thing,” Brad added.
However, the statement stirred various chants on Twitter as many XRP enthusiasts claim the company is making profit at the detriment of the investor’s interest by dumping XRP on the public.