RATE Group | Ripple launches its new Twitter bot to track XRP in escrow
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Ripple launches its new Twitter bot to track XRP in escrow

05 May Ripple launches its new Twitter bot to track XRP in escrow

Posted at 06:05h in Cryptocurrency News by

  • Ripple just launched a new Twitter bot, in charge of tracking XRP coins locked in escrow.
  • The coins were previously locked away in 2017, due to investors’ unease with how much XRP Ripple owned.
  • Now, the company wishes to take an extra step in proving its transparency by launching a tracking bot.

Two and a half years ago, in the middle of the largest crypto bull run to date, Ripple found itself with a lot of nervous investors. The company held too much XRP, and people were beginning to rapidly lose trust in it. So, Ripple had to make a move that would calm the investors down, and that involved reducing its own power.

Ripple’s new Twitter bot to track XRP in escrow

The team came up with a solution — to lock away as much as 55 billion coins into different escrow accounts. With the coins safely locked away, it became easy to predict the circulating supply of XRP at any time. The locked 55 billion coins represented 55% of XRP’s total supply. Of course, everything was…

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