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The private ledger of XRP FUD exploded after the news of the transfer of money from Mexico to the United States a few days ago. People who tried to find the transaction in the XRP ledger did not succeed in doing so and were convinced that there was indeed a private ledger for xRapid transactions via XRP.
According to the company, they made a transaction of £ 3,521.67, or $ 86,633.00 from the United Kingdom to Mexico. The company even claimed to have saved 79.17 pounds sterling and 31 hours on this transaction.
@MarkCryptos and @ XRP_Mahn1 asked a similar question to Ripple's CTO, David Schwartz, if that was true in separate tweets.
@ XRP_Mahn1 asked:
@JoelKatz Some seem to think that there is a big book and a big hidden book (A retailer, an institutional) that will eventually be merged. This seems to me ridiculous because the rules of the protocol stipulate that a state is valid and that it is immutable. "
David Schwartz replied:
"It's hard to imagine what such a merger would look like. He should follow the rules of the general ledger. It's pretty funny, I was thinking today how great it would be to be able to run the XRPL software in a private ledger mode and later as a gateway …
to the general public. For example, you could have an badet published on both ledgers that is bridged by private ledger validators that multisigns transmissions for the public ledger. It is actually an interesting use case to reduce the issue costs and costs. "
The conversation on the Twitter feed continued and a user asked if it was possible that a private ledger could be created between the organizations for transactions via xRapid.
Schwartz added that the XRP registry is public and that it is the "authoritative evidence" that a person holds XRP. He added that a person / organization could use the real XRP in a private ledger in different ways, but that person / organization had to actually buy the XRP to build the bridge.
David Schwartz further stated:
"This gives you two interesting use cases: 1) No XRP for cases where the cost of XRP is a factor. You only need / use XRP when you need to interact with the general ledger. 2) Fully linked XRP, for cases where you want liquidity and connectivity without worrying about very small costs. "
In addition, Schwartz stated that none of these constructions had yet been built and that even if it had to be done, it would not be difficult. Moreover, he said that if such a thing happened, it would be called into question by the centralized system. He added that he liked the idea of major books run by the federation.
David Schwartz concluded by saying:
"If you created such a walled garden, why use a crypto or a blockchain? It sounds like a simple recreation of private ledger balances – something everyone is already doing. "
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