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U.Today – In the latest discussion about the circulating supply of XRP, CTO David Schwartz goes along with the coins produced by its mysterious creator, Satoshi Nakamoto. His words highlighted the complexity of defining what a “circulating supply” is in the crypto landscape.
User X pointed to the imbalance in the circulating supply of XRP reported by the crypto ranking platform CoinMarketCap and the popular XRP researcher XRPScan.
CoinMarketCap reports the current circulating supply of XRP as 57.64 billion XRP, while according to a screenshot shared by user X, XRPScan reported 62.23 billion XRP.
Commenting on this theory, Schwartz explained, “How you measure supply rotation depends on what you consider to be rotation and what you don’t consider rotation.” He continued, “For the Bitcoin analogy, are Satoshi’s bitcoins in circulation? Reasonable people can disagree about which Satoshi’s bitcoins are.”
Satoshi had Bitcoin on the internet
The comparison made by the Ripple CTO is especially important considering that Satoshi Nakamoto has more than one million BTC, which has been sitting idle since the early days of Bitcoin. Although these coins exist on the blockchain, many in the crypto community believe that they are essentially obsolete due to their inefficiency.
According to CoinMarketCap, Bitcoin’s total and circulating supply is currently 19.81 million BTC, with a peak supply of 21 million BTC.
Ripple’s XRP holdings are divided into two categories: XRP currently available in its wallets, and XRP based on in-ledger escrow lockups that will be released monthly for the next 42 months .
For this last group, Ripple has no access to this XRP until the escrow gives it to them every month. Every month, the remaining XRP released is returned to the escrow account.
