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Musk’s Engagement With Cryptocurrency Communities

Renowned tech titan Elon Musk, known for his influential social media presence, recently shared an announcement on X about his other space-related endeavors besides SpaceX. Musk highlighted the successful deployment of additional Starlinks into Earth’s orbit in his tweet.

Notably, the first responders to Musk’s announcement were accounts associated with XRP. Since Twitter’s transformation into X, XRP enthusiasts have pointed out the striking resemblance between the platform’s ‘X’ logo and the cryptocurrency’s distinctive logo.

The XRP Army frequently engage in lively discussions and leave numerous comments under Musk’s tweets. In this instance, when Musk emphasized the letter ‘X,’ XRP enthusiasts commented with statements like “$XRP on its way to orbit post-takeoff!” and “More XRP reaching orbit.”

However, the renowned tech titan hasn’t replied to these XRP-related comments. Elon Musk’s engagement with cryptocurrency communities through his tweets continues to cause short-term fluctuations in the value of various cryptocurrencies, leaving XRP enthusiasts hopeful of recognition from the influential tech figure.

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Results And Impact Of Bishop Fox’s Audit On EVM Sidechain

In a related development, the XRP Ledger team has unveiled the results from an extensive security audit conducted by cyber security firm Bishop Fox. The audit primarily focused on scrutinizing the EVM sidechain, specifically evaluating its implementation and consensus mechanism.

Also, it aims to bridge the system between XRPL and EVM, utilizing the XLS-38 cross-chain bridging specification for XRPL. Bishop Fox recently released remediation reports addressing issues identified in the EVM sidechain and the XLS-38 cross-chain bridge.

These resolutions will be integrated into the mainnet launch of the EVM sidechain, rectifying the highlighted vulnerabilities. Developed in collaboration between Peersyst and Ripple, the EVM sidechain, marked by the launch of its v2 devnet in June 2023, continues to undergo advancements aimed at enhancing its security and functionality.

This audit outcome signifies a significant step towards fortifying the reliability and robustness of the XRP Ledger’s auxiliary systems, fostering greater user confidence.

XRPScan Modifies’ Rich List’ Feature

Meanwhile, XRPScan, a prominent XRP explorer, has unveiled a pivotal modification to its tool to boost transparency within the XRP ecosystem. The platform recently announced an update to its “Rich List” feature.

This update offers community members an enhanced view of wallet engagements, enabling them to have a detailed analysis of the XRP holdings of various participants. This significant alteration followed feedback from an XRP enthusiast, @CryptoC_James, who highlighted the challenges of identifying Ripple-based escrow wallets.

The latest modifications aim to address these concerns by identifying previously obscured wallets, thus empowering community members with easier access to vital information.

XRP Holdings Distribution By Ripple Labs Inc.

Following the recent overhaul, the ‘Rich List’ reveals that addresses associated with Ripple Labs Inc. occupy the top 12 positions among the largest XRP holders. The first six addresses boast substantial holdings, each having an average of 5B XRP locked in escrow.

Also, four wallets display varied escrow amounts, ranging from 2B XRP to 3.5B XRP. XRPScan’s enhancement of the ‘Rich List’ contributes to greater transparency within the XRP community.

More importantly, it offers valuable insights into the distribution of XRP holdings among key entities, fostering a more informed ecosystem.

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George Ward

By George Ward

George Ward is a crypto journalist and market analyst at Herald Sheets, known for his engaging articles on the latest digital currency trends. With a background in finance and journalism, he presents complex topics accessibly. George holds a degree in Business and Finance from the University of Cambridge.