Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • News
  • Ripple (XRP)

Ripple CTO David Schwartz Sheds Light on the FUD that Says 98% XRP Transactions Are Empty

Solomon Odunayo May 9, 2020 3 min read
David Schwartz Submits Proposal towards Adding NFT Support to XRP Ledger

Ripple CTO, David Schwartz has some hours ago shed light on the trending FUD that says 98% of XRP transactions are empty.


trade now

Recap of the FUD about the XRP Empty Transactions

About two days ago, a major crypto news outlet published the result of a research paper that disclosed that the majority of transactions on three major blockchain platforms are empty.

It added that in many cases, they are generally meant for spam or for airdropping worthless tokens.

The research paper says, “Our analysis reveals that only a small fraction of the transactions are used for value transfer purposes. In particular, 95% of the transactions on EOS were triggered by the airdrop of a currently valueless token; on Tezos, 82% of throughput was used for maintaining consensus; and only 2% of transactions on the XRP ledger lead to value transfers.”

David Schwartz Sheds Light on the Assumed Fact

A supposed XRP community member came up with this inquiry a couple of hours ago. This sensitive inquiry was directed at two prominent personalities in the Ripple and XRP community, David Schwartz and Wietse Wind.

They were asked to explain the trending FUD surrounding the purported XRP empty transactions. The context of the tweet and what brought about the inquiry made it unavoidable.

He wrote, “Ok…so my mom sent me this. She wants David Swartz or Wietse Wind to explain this possible FUD on XRP / XRP or she’s pulling my funding! My Mom’s name is Linda & it means beautiful. I don’t want an XRP Awkward”

Ok…so my mom sent me this. She wants @JoelKatz or @WietseWind to explain this possible #FUD on #XRP / $XRP or she’s pulling my #funding ! My Mom’s name is Linda & it means beautiful. I don’t want an XRP Awkward #MothersDay #xrpcommmunity @sentosumosaba @cz_binance @Kevin_Cage_ pic.twitter.com/TwrdJkGBmf

— XrpBobaFett (@xrpbobafett) May 8, 2020

In response to the sensitive question, Ripple CTO David Schwartz said “I believe it”, adding that transactions on the XRP ledger are so fast and cheap, with so much capacity and little incentive that is capable of disallowing submission of near-zero value transactions.

He said,

I believe it. Transactions are so fast and cheap and the ledger has so much capacity, little incentive not to submit near zero value txns. Not long ago, 50% off all public decentralized ledger txns were on XRPL!

Adding that “Some have argued we should raise the minimum txn fee from 0.00001 XRP to something much more significant to reduce txn spam.”

Another XRP community member asked this, “What is to gain from spam transactions? Is this like people sending links to ledger accounts to get you to click for a virus?”

Responding to the user’s inquiry, David Schwartz said, “Last I checked, most of them looked like bots fighting over positions in the order books, offer create and offer cancel txns. I haven’t looked in a while though. Very little of it seems actually malicious.”

Last I checked, most of them looked like bots fighting over positions in the order books, offer create and offer cancel txns. I haven't looked in a while though. Very little of it seems actually malicious.

— David "JoelKatz" Schwartz (@JoelKatz) May 9, 2020

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Charles Hoskinson Replies a Troll that Says Shelley Won’t Be Launched In 2020
Next: Vitalik Buterin Defends Ethereum (ETH), Says Bitcoin (BTC) Has Lots of Centralized Middlemen

Related Stories

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
3 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?

May 27, 2022
27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Crypto Trading
  • Ethereum (ETH)
  • News
  • Price Analysis

27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness

May 27, 2022
Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis
2 min read
  • Altcoins
  • Cardano (ADA)
  • Crypto Trading
  • Cryptocurrency
  • News
  • Price Analysis

Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis

May 27, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$28,810.00
-2.54%
ethereum
Ethereum (ETH)
$1,748.73
-4.59%
tether
Tether (USDT)
$1.00
-0.01%
usd-coin
USD Coin (USDC)
$1.00
-0.16%
binancecoin
BNB (BNB)
$303.07
-2.69%
ripple
XRP (XRP)
$0.386697
-2.69%
Binance USD
Binance USD (BUSD)
$1.00
-0.10%
cardano
Cardano (ADA)
$0.461297
-4.61%
dogecoin
Dogecoin (DOGE)
$0.081879
3.18%
polkadot
Polkadot (DOT)
$9.33
-0.24%

Recent Posts

  • $240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
  • 27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness
  • Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis
  • Ethereum, Ripple, Cardano Price Analysis – 27 May 2022
  • Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
  • UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
  • 26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?

Categories

You may have missed

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
3 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?

May 27, 2022
27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Crypto Trading
  • Ethereum (ETH)
  • News
  • Price Analysis

27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness

May 27, 2022
Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis
2 min read
  • Altcoins
  • Cardano (ADA)
  • Crypto Trading
  • Cryptocurrency
  • News
  • Price Analysis

Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis

May 27, 2022
Ethereum, Ripple, Cardano Price Analysis – 27 May 2022
2 min read
  • Altcoins
  • Cardano (ADA)
  • Crypto Trading
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

Ethereum, Ripple, Cardano Price Analysis – 27 May 2022

May 27, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%