In a revelation to the XRP crypto community, David Schwartz, the CTO of Ripple and one of the architects of the XRP Ledger, shared details about the origin of the name “XRP”. This clarification came after Edward Farina, Social Adoption Lead at XRP Healthcare, highlighted an analysis done by Schwartz, which quickly captured the attention of enthusiasts and investors.
The story behind the name “XRP” begins with the conventional approach of naming fiat currencies using a three-letter code. This practice, which assigns codes based on two-letter country codes, such as “USD” for the United States dollar, has been a standard in the global financial system. Schwartz pointed out that, for digital assets that transcend national borders, an “X” is adopted at the beginning of the currency code. This convention helps to clearly differentiate assets that are not associated with a specific country, such as gold (XAU), from those that are.
In Schwartz’s explanation, “XRP” was chosen following this principle. The “X” symbolizes its global status, not restricted by national borders, while “RP” derives from the coin’s original nickname, “ripples”. This method not only aligns with international standards but also reflects XRP’s unique identity.
Additionally, Schwartz touched on an interesting point about nomenclature in the crypto space, mentioning that although Bitcoin is widely recognized by the code “BTC”, a portion of the community prefers “XBT” to maintain consistency with the naming convention for currencies. non-nationals. This observation highlights the variety of methods adopted in the industry to identify cryptoassets and underlines the importance of maintaining clear and consistent standards.
This discussion not only illuminates the origin of the “XRP” code, but also offers a window into naming practices within the cryptocurrency sphere. For enthusiasts and novices alike, these details not only enrich knowledge about the industry, but also emphasize the importance of a unified framework for identifying cryptoassets.
At the time of publication, the price of XRP was listed at $0.5364 with a drop of 1% in the last 24 hours.
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Source: https://portalcripto.com.br/david-schwartz-revela-as-origens-do-nome-da-criptomoeda-xrp/
