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Adam Back Calls XRP Losing Its Genesis Block "Biggest Fail Yet"

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Thu, 08/27/2020 - 15:57
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Alex Dovbnya
Blockstream CEO Adam Back mocks XRP Ledger for losing its early history
Adam Back Calls XRP Losing Its Genesis Block "Biggest Fail Yet"
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In a caustic tweet, Blockstream CEO and prominent Bitcoin maximalist Adam Back claims that XRP Ledger's losing its genesis block is "the funniest fail ever":

Yah that's the funniest fail yet. Lose some of the blockchain history, working copies goes from 1 to 0.

As shocking as it may sound, the first week of XRPL's history has, indeed, been permanently erased.

Bitcoiners come for Chris Larsen

As expected, the op-ed written by former Ripple CEO Chris Larsen for The Hill certainly did not sit well with Bitcoin maximalists.

As reported by U.Today, Larsen argued that the Chinese had enough power to seize control over the Bitcoin network due to the high concentration of global mining hashrate in the communist state:

At least 65 percent of cryptocurrency mining is concentrated in China, which means the Chinese government has the majority needed to wield control over those protocols and can effectively block or reverse transactions.

Blockstream CSO Samson Mow countered Larsen's argument by pointing out that the Communist Party of China itself does not subsidize Bitcoin or any other cryptocurrency.

Chris Larsen is a few blocks short of a blockchain. The Chinese government does not subsidize the mining of Bitcoin or any other cryptocurrency – I'd love to see his sources that state otherwise.

Related
Ripple Partner Flare Wants to Bring Together XRP and Ethereum Ecosystems

"32,570 blocks short of a blockchain"

In retaliation, Monero developer Riccardo Spagni paraphrased the aforementioned quote, claiming that the ex-Ripple boss is actually "32,570 blocks short of a blockchain."

He also attached a post published by Ripple CTO David Schwarz on Bitcointalk back in 2013, in which he explains that the XRP Ledger can only be traced from ledger 32,570 due to a critical bug that has erased the earliest days of the cryptocurrency's history.

Katz
Image by @fluffypony

This means that there is no record of XRP's genesis blockβ€”the one that marked the creation of 100 bln tokens.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry β€” from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.