The threat to fork digital token XRP, which Ripple, the US-based payment company oversees its distribution has been trending within the XRP community and the crypto space as a whole for quite some time. Crypto Bitlord, a twitter influencer and consistent crypto commenter spearheads this mission, and has kept reiterating his determination ever since.
On the note of hard forking XRP, a blockchain researcher at consulting firm Aykesubir, has patiently weighed the eventuality of such an attempt, averring that it could eventually amount to a wasted effort.
Attempt of Crypto Bitlord to Hard Fork XRP
For quite some days, a host of criticisms has been directed at Ripple, the blockchain tech that distributes XRP.
The payment company was alleged of indiscriminate selloffs of its native digital token, XRP, which allegedly contributed to the dwindling of its price in the cryptocurrency market.
Crypto Bitlord, a twitter influencer who boasts of over 100,000 followers, stimulated some cryptocurrency community members, coupled with other enthusiasts, to embark on the mission to hard fork the third largest cryptocurrency by market capitalisation, XRP.
Blockchain Researcher Says XRP Hard Forking Would Struggle to Gain Traction
This topic has attracted lots of attentions since it emerged, due to the popularity of Ripple’s XRP. Its community members have since shown their solidarities, throwing weights behind their choice digital asset, which they commonly tag as the money for the not too distant future.
During an interview with Cointelegraph, a blockchain researcher at consulting firm Aykesubir, Eyal Shani, averred that anyone can actually fork XRP such as Bitcoin.
He however pointed that such a fork could amount to wasted effort, because it will likely not gain much needed traction.
This traction has to do with gaining the trust of people to power the network, before it could be termed a successful project. Also, convincing both minor and major exchanges for full support would be a dream that might not become a reality.
Chief Crypto Analyst at Weiss Ratings Adds his Thought about Forking XRP
Juan M. Villaverde, Weiss Ratings’ chief crypto analyst corroborates Eyal Shani’s sentiment on the proposed hard forking of XRP, as reported by Cointelegraph.
Villaverde pointed to the fact that those who are supporting the fork have continuously failed to apply their purchase power in boosting the price of XRP in the market.
Conclusively, he said their failure in helping current token will still continue if they eventually fork XRP ledger.