Ripple CTO Debunks Rumors Around 'Private XRP' Cryptocurrency

Ripple's CTO Addresses Rumors of Private XRP Ledgers

In a move to quell long-standing speculation, Ripple's Chief Technology Officer, David Schwartz, has addressed the topic of private versions of the XRP Ledger. The chatter around Ripple's potential use of private XRP ledgers has been a subject of discussion within the XRP community for years, but Schwartz's recent statement has put the matter to rest.

Responding to a straightforward question on social media, Schwartz made it clear that no private ledgers currently use XRP as a fee currency. He explained that if such a private ledger were to be designed in the future, the fees would likely go to the operators or owners of that private ledger, rather than being burned like on the public XRP Ledger.

This statement carries significant weight, as it dispels the notion that Ripple might be operating parallel systems with different XRP mechanics or pricing. The idea that Ripple's work on Central Bank Digital Currencies (CBDCs) could include an internal XRP variant has also been put to rest.

Schwartz's response underscores the singular nature of the XRP token, emphasizing that there is no "private XRP." The XRP token, he affirms, is burned on the public ledger and valued on open markets, with no dual pricing or undisclosed network activities.

This clarification from Ripple's CTO is a significant development, as it addresses long-standing speculation and provides much-needed transparency to the XRP community.