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Ripple CTO Exposes XRP and Ethereum (ETH) Genesis Block Secrets

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Wed, 17/01/2024 - 12:20
Ripple CTO Exposes XRP and Ethereum (ETH) Genesis Block Secrets
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In a recent revelation, David Schwartz, the Chief Technology Officer (CTO) at Ripple and one of the key architects behind XRP Ledger, disclosed an intriguing insight into the genesis block secrets of Ethereum (ETH). The discussion unfolded when a curious crypto enthusiast probed Schwartz about the peculiar genesis block numbering in XRPL.

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The question pointed to a historical mishap that resulted in the loss of ledgers 1 through 32,569 in XRPL, creating an unconventional void in recorded data. Schwartz responded by asserting that the choice of considering a particular block as the genesis block is arbitrary, drawing parallels to Ethereum's own genesis block.

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To illustrate his point, Schwartz shared a link to an August 2016 transaction moving a substantial 2,622.1 ETH, currently valued at $6.68 million. He questioned the origins of the ETH and emphasized that Ethereum's genesis block, much like XRPL's, had undisclosed transactions that determined the allocation of funds.

As the discussion unfolded, Schwartz delved into the intricacies of Ethereum's genesis block, revealing that certain transactions were deliberately excluded from the public blockchain. He suggested that decisions were made to obscure the source of funds, showcasing the arbitrary nature of defining a blockchain's genesis.

What's with XRP?

The conversation further explored the absence of transactions in XRPL's genesis block, leaving 534 transactions in the first 32,570 ledgers presumed lost. Notably, the breakdown of XRP distribution at ledger 32,570 revealed specific ownership percentages, with individuals like Jed McCaleb, Chris Larssen, Arthur Britto and entities like OpenCoin holding precise and publicly known shares.

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This revelation not only sheds light on the mysterious genesis blocks of both XRPL and Ethereum but also raises questions about the transparency and decision-making processes within blockchain ecosystems.

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