DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education/entertainment purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.
Hello again my avid readers!
Why XRP has not been hacked like the Bitcoin and Ethereum had in the past?
Before I manage to write this article, one thing have come up to my mind that after a long time I been trading and holding/hodling XRP, I haven't read any single piece of information that XRP do not have any hack issues in the past except for the facts:
• XRP faced lots of lawsuits including being a Security
• Ripple labs, the company behind the XRP, always have issues like the recent brand name copyrights with the Australia PayId.
• XRP is very cheap and has too many supply
• XRP is not a true cryptocurrency because the company that created it work with the banks and very, very centralized.
• XRP do not have a real blockchain proof of work transaction because most people missed the fact that its proof of work is BURN. It's pre-created! That caused a lot of problems to the ignorant and un-researched ones!
• A lot of XRP locked in Escrow Accounts
• Lots of crypto enthusiasts all over the world hate the cross-border-settlement tokens for so many reasons that I won't even bother to cite out. Just stressing me out and wasting my time.
• Jed McCaleb, the former CTO of Ripple Labs is selling lots of XRPs nonstop to date! That's ultimate betrayal. :-(
https://read.cash/@rafaelken1989/jed-mccaleb-ex-xrp-superstar-4f2263f5
And so much more out there that I don't want to write anymore.
Okay, alright, the XRP is the underdog cryptocurrency if we face it side-by-side with the king and famous coins Bitcoin and Ethereum.
But have you ever wondered or thought about that XRP in fact has not faced hack issues since it started? Or I may be wrong and did not researched enough, so please feel free to correct me by commenting below. I would appreciate it a lot if you know any XRP hack issues so tell me right away!
Moreover, I am not biased here but I want to give some significant hack issues about the king coins.
Bitcoin
Who can ever forget the infamous Mt. Gox Bitcoin hack where Jed McCaleb is allegedly connected as well! It just where he is always follow a disaster!
Victims were devastated where Bitcoin was its height of glory then suddenly fall.
Read and reminisce it again:
https://www.buybitcoinworldwide.com/mt-gox-hack/
Ethereum
If smart-contracts added on a high-end blockchain technology are showing both on the 2nd place cryptocurrency in market capitalization category, the Ethereum, then why it was hacked? Could it be done through an inside job? Who knows I might be wrong or right. It doesn't matter because the hack almost destroyed the crypto!
Read here for full details:
https://www.coindesk.com/say-hello-to-the-singularity
Damages have been done for both king coins: Bitcoin and Ethereum.
Both have hard forks that are hostile to the originals: Bitcoin Cash and Ethereum Classic.
And XRP will have soon its friendly utility fork called Spark tokens by Flare networks this coming December 12, 2020 so marked your calendars as I am getting excited for it. I will give a small glimpse of it, it will bridge the XRP and the Ethereum in one working space. That is very exciting to see on how it will affect the XRP's price.
Maybe the answer to my question on the 2nd sentence of my article is hackers would not care less to hack a very cheap cents XRP! :-)
They lay their eyes on the expensive king coins only! Who knows... ;-)
So I hope by stating all the things I mentioned above, the XRP can earn some respect at least.
Thanks for reading this article and please free to give your thoughts through comments below.
Thanks and God bless! :-)
Wow nice crypto