In a recent engaging session, members of the cryptocurrency community participated in a vibrant discussion with David Schwartz, uncovering lesser-known aspects of XRP and the foundational history of Ripple.
This public dialogue, hosted on the platform X, allowed users to query Schwartz on various topics, including the intricacies of XRP’s architecture, the visionaries behind the XRP Ledger, and even intriguing snippets from Ripple’s early days. Schwartz’s insights provided a window into the minds and inspirations that shaped Ripple during its early development phase.
The Significance of “Drop” and Contributions of Arthur Britto
The conversation was sparked by a community inquiry from a user named Bird, who wanted to know the origin of the term “drop” for the smallest unit of XRP. Schwartz mentioned that while he couldn’t pinpoint the exact source, he speculated that the idea might stem from Arthur Britto, a key figure in designing the functionalities of the XRP Ledger.
Elaborating further, Schwartz shared his perspective on the intellectual contrasts between himself and Britto. He humorously noted that although he considered his intellect relatively typical, Britto exhibited a unique brilliance that is rarely found in most individuals.
As the discussion transitioned, another user, Toby, asked if the Ripple name had any connection to a Grateful Dead song or the well-known Dancing Bear featured on an older Ripple error page. Schwartz clarified that the association was purely coincidental, explaining that the domain ripple.com was initially owned by a fan of the Grateful Dead who later sold it to Ripple.
Insights on XRP Valuation and Market Trends
Continuing the discussion, XRPL validator Vet probed Schwartz for historical examples showcasing the innovative spirit attributed to Britto. Schwartz cited two pivotal concepts birthed by Britto: the integration of a decentralized exchange within the XRP Ledger and the innovative pathfinding mechanism that facilitates payments utilizing multiple liquidity sources.
The tone of the conversation shifted when another participant encouraged Schwartz to clarify to XRP enthusiasts that prices would never ascend to heights like $50 or $100. Schwartz refrained from making definitive claims, expressing his cautious stance toward intently predicting cryptocurrency valuations.
He reflected on his past, noting that while he personally finds such price points improbable, he learned from history that crypto markets can be highly unpredictable. Schwartz reminisced about once believing XRP would struggle to hit $0.25, only to have sold at $0.10, a decision he viewed as hasty given how Bitcoin’s ascent to $100 appeared at that time.
