Ripple A transaction involving XRP has sparked interest among members of the XRP Community. escrowed XRP tokens. In particular, the timing and the memo These community members have been prompted to ask what is happening.
Ripple Escrow Unlocks 400 Million XRP
Whale Alert, an on-chain analytics tool, brought this transaction to the attention of the community when it occurred. reported This 400 million XRP was released from the escrow account. It is not uncommon for a crypto firm to make such a transaction, but the timing of this is surprising because Ripple unlocked these tokens each month at the beginning.
Interestingly, a particular X user (Off Escrower) suggested Ripple didn’t initiate the transaction As he claimed to be responsible, he took the blame. He hinted at the fact that the funds released were part of token unlocks in February. Ripple Released at the beginning the month.
Escrower’s claim to have released tokens was more surprising Since many believed that the escrowed money was automatically unlocked at the start of each month (through a Smart Contract). Off Escrower clarified It is important to note that the smart contract itself does not unlock the funds. Someone else must execute the transaction when the time comes to release the money.
Next, X postHe suggested that anyone can initiate the transaction. “Execution of an escrow that has fulfilled its condition is decentralized away from all parties so that any party can execute the escrow.” Off Escrower claimed.
Bitcoinist has previously been a Bitcoinist reported How anyone can initiate an EscrowCancel transaction or EscrowFinish when the conditions are met. Off Ecrower may be right and Ripple was not the one to initiate the transaction.
Include a Memo with the Transaction
On-chain data The transaction was accompanied by a memo. The memo stated: “February escrow was not executed? Hmm. !!TRWBT!! Welcome back, Hodor!! John Deaton!!” Off Escrower claimed The person responsible for the memo can be anyone who releases escrowed fund.
It’s not unusual to see a memo It is common for these transactions to include escrow. Ripple’s escrow was used a lot in the early days. In the meantime, it is believed that the memo’s mention of John Deaton refers to the lawyer. recent decision Run for Congress
Deaton, well-known The crypto community will be running against an outspoken critic Senator Elizabeth Warren Massachusetts Senate Seat Deaton has also been a critic of Warren for a long time. once described Her as the “single largest threat to Crypto in United States.
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Source: bitcoinist.com