Krippenreiter Profile picture
Mar 5, 2023 β€’ 11 tweets β€’ 9 min read β€’ Read on X
[1/🧡] Beautifully crafted thread. πŸ‘

Even though I mostly agree with everything expressed, there are some mistakes made based on terminology starting with the word "token".

A thread (🧡) about my opinions, which are hopefully more uplifting. πŸ‘‡
[2/10] Let's start with a definition of "token" and see if we can locate a suitable statement in the #web.

What is a token ❓
❝ A crypto token is a representation of an asset or interest that has been tokenized on an existing cryptocurrency's blockchain. ❞ Source:  https://101blockchains.com/wp-content/uploads/2022/
[3/10] Even if the distinctions are small, claiming that #XRP is a token is strictly incorrect since #XRP cannot be a token.

Because #XRP has no issuer, it cannot exist as a tokenized representation of anything. XRP  XRP is the native cryptocurrency of the XRP Ledger. All
[4/10] The differences on #XRPL are far more fundamental than on other #blockchains.

Have a peek at this comparison chart for a high-level overview: Comparison  The following table summarizes some of the diffe
[5/10] Let's go over the past postings and begin with this statement:

▢️ Escrow and Payment Channels are exclusive to #XRP, the native cryptocurrency, as long as the Amendment for #XLS34d has not passed.
[6/10] According to the docs, #XRP is the currency used to auto-bridge between illiquid trade pairings & to deepen #liquidity for tokens on the #DEX

I must acknowledge, though, that I could locate no source stating that XRP must be used exclusively there.
Auto-Bridging  Any Offer in the XRP Ledger's decentralized e
[7/10] #Pathfinding may, in principle, be utilized to avoid the auto-bridge function, but only with liquid pairings.
. . . Auto-Bridging  Any Offer in the XRP Ledger's decentralized e
[8/10] . . .

Because #XRP is the ledger's native currency, the #XRPL will always pick the most direct and liquid "route," which is a straight #XRP-to-#XRP payment that does not require any paths, minimizing complexity and processes for leveraging #liquidity. Paths  In the XRP Ledger, paths define a way for tokens to f
[9/10] One last distinction between #XRP & a token is that no one can prevent me from sending you XRP by default, whereas transferring me tokens is impossible without first establishing a #trustline.

Because of this, XRP is more "free" and superior than any other token on #XRPL Default Paths  In addition to explicitly specified paths, a
[10/10] That was fun! πŸ˜‡

I have nothing further to say because his 🧡 speaks for itself ❀️

You must act if you want the price of #XRP to rise and ...

... ❝ build projects that use XRP natively, support those projects and add value! ❞ β€” @rippleitinNZ

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More from @krippenreiter

Mar 29
[1/🧡] Over the last few days, many newcomers have asked me one question, and one question only:

β€œWhat do I need to keep in mind if I want to hold my keys in self-custody on the XRP Ledger?”

My Answer?

β€œIt depends...” and here's why. πŸ‘‡ Source: https://map.xrpl-commons.org
[2/16] β€” 1⃣ Background β€”

Self-Custody doesn't simply mean holding your own private keys to control your own account on the XRPL.

There's also the psychological effect that is about personal responsibility for all that happens. Source: https://www.theexceptionalskills.com/take-personal-responsibility/
[3/16] β€” 2⃣ Background β€”

If something goes terribly wrong, chances are very low that anyone will be able to help you, at least as things stand today. (I'll try though πŸ€—)

πŸ‘‰ "Be your own bank" also has its drawbacks. Source: https://www.listenmoneymatters.com/infinite-banking-concept/
Read 17 tweets
Mar 24
[1/🧡] XRP Ledger Vocabulary Overview ‼️

The greater the XRPL becomes and the more features are introduced, the more I feel that a dictionary is needed.

Let's start with 10 words you NEED to know. πŸ‘‡ Source: https://www.youtube.com/watch?v=sVTybJ3cNyo&t=19s
[2/14] β€” XRP β€”

Digital currency that is secured by cryptography and supported by the XRP Ledger.

Also used for:
πŸ”Έ Transactions
πŸ”Έ Fees
πŸ”Έ Reserves
πŸ”Έ Bridging trades
πŸ”Έ Cross-border (Peer-2-peer) payments Source: https://xrpl.org/docs/introduction/what-is-xrp
[3/14] β€” XRP Ledger β€”

A decentralized blockchain that enables fast and cost-efficient transactions for processing and recording financial data.

Most important feature:
πŸ”Έ There is no single central authority Source: https://xrpl.org/docs/introduction/what-is-the-xrp-ledger
Read 15 tweets
Mar 16
[1/🧡] The XRP Ledger is particularly superior when it comes to the fundamental task of moving value.

Although there are limits, we are about to overcome them big time! But how? 🀨

Follow me as I show you all the missing blocks πŸ‘‡ Source: @Krippenreiter
[2/15] β€” 1⃣ Fundamentals β€”

What makes the XRP Ledger so great is that "things just work". πŸ˜‰

To move value from A to B, you don't need a master's degree, because every single imaginable feature is engineered deep into the core. Source: https://xrpl.org
[3/15] β€” 2⃣ Fundamentals β€”

No matter if we talk about tokens, the decentralized exchange, escrow, or payment channels.

They are all tiny building blocks that a developer can put together to form the base layer of any solution. Source: https://smallbiztrends.com/businesses-for-sale-nationwide-right-now/
Read 16 tweets
Mar 9
[1/🧡] A paradigm shift for the XRP Ledger is on the horizon ‼️

It's a future that's:
πŸ”Έ Programmable
πŸ”Έ Automated
πŸ”Έ Compliance-first

Let's take a look at some of the fundamental arguments and work out what this will mean for XRP. πŸ‘‡ Source: @Krippenreiter
[2/18] β€” 1⃣ Status Quo β€”

To date, the XRPL is a so-called β€œfixed-function” blockchain, which only allows new native features to be added to the XRP Ledger if the on-chain governance process votes in favor of it.

If you're a pessimist, you would call this β€œpermissioned”. πŸ˜‰ Source: https://xrpl.org
[3/18] β€” 2⃣ Status Quo β€”

But there are actually many benefits and advantages that support this approach, e.g.:
πŸ”Έ Battle-tested (i.e. Escrow, Paychannel)
πŸ”Έ Aggregated Liquidity (CLOB+AMM)
πŸ”Έ Automatic Version Upgrades
πŸ”Έ Higher Standards (More Audits and Performance Tests) Source: https://b2prime.com/mu/news/what-is-liquidity-aggregation-and-how-it-works/
Read 19 tweets
Feb 25
[1/🧡] One of the more fundamental proposals became public today. It's a draft that lays out a path to an inheritance solution for the XRP Ledger. 🧐

In my view, this is so much more than β€œjust” an inheritance solution.

Let me show you what I mean. πŸ‘‡ Source: https://dailycoin.com/crypto-inheritance-what-happens-to-cryptocurrency-if-i-die/
[2/10] β€” 1⃣ What's the matter? β€”

The way I see it, there are some hidden aspects that make this really powerful and a true β€œPlan B” solution if you lose access to your wallet.

It's much more than a solution to claim the last will and testament. Source: https://eshimony-law.com/inheritance-in-israel/understanding-different-types-of-wills-in-inheritance-law-in-israel/
[3/10] β€” 2⃣ What's the matter? β€”

It's the Plan B that could be your lifeline if you voluntarily or involuntarily lose complete access to your funds.

Voluntarily? What? 🀨

Let me give you a few cool examples to clarify this. πŸ‘‡ Source: https://workalpha.com/productivity-starts-with-having-a-back-up-plan-in-case-disaster-strikes/
Read 14 tweets
Feb 2
[1/🧡] There are people out there who still believe that there are ways to clawback XRP on the XRPL. 🀨

While this is NOT possible & is written all over the official documentation, there is one more argument that should hit the nail on the coffin.

The ULTIMATE reason why πŸ‘‡ Source: @Krippenreiter
[2/14] β€” Tokens β€”

Whenever you hear β€œclawback”, you should automatically think of β€œissued assets”.

They are fungible and come in many forms and structures:
πŸ”Έ IOUs
πŸ”Έ Stablecoins
πŸ”Έ Multi-Purpose (later this year)

Anyone can issue these kinds of tokens on the XRP Ledger. Source: https://xrpl.org/docs/use-cases/tokenization/real-world-assets
[3/14] β€” Structure β€”

On the XRPL, all currently issued token holdings exist via so-called β€œtrust lines”, i.e. an accounting relationship between a person holding a token & the issuer.

In other words, something to prevent you from holding a token that you don't want. Source: https://xrpl.org/docs/use-cases/tokenization
Read 15 tweets

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