- Dev Null Productions, which announced its exit shortly after Alloy Network did the same thing, has also left XRP Ledger.
- The firm claims that Ripple’s leadership prioritized their own personal interests over those of retail investors. This reveals a lack of faith in digital assets.
Alloy Network has recently left the XRP Ledger.XRPLDev Null Productions (an engineering firm that focuses on the delivery of reliable digital products) has announced its decision to stop contributing to this ecosystem. The firm stated that it will no longer support XRP or recommend it to individuals and organizations.
Dev Null Productions Explanations of its Departure
In a long post Title ” The end of an era: Adieu XRP”Among the many contributions made by the company to the XRPL during the past six-year period, there are rippled source Ledger, code, rippled, xrpintel etc. CNF has reviewed its justification and found a large gap. Ripple Leadership that throws the future of ecosystem into disarray. Dev Null Productions began by accusing the Ripple Leadership of not having faith in the digital currency. They claim that this was evident by their decision to sell the XRP they had at retail investor’s expense.
The leaders of this company do not have the faith in digital assets to sacrifice short-term financial gains that are given on the backs hardworking people. They may talk the talk in front of an auditorium or TV camera. But their actions are more important than the words they use.
Dev Null Productions has also accused XRPL Foundation, (XRPLF), of prioritizing the Foundation’s objectives over the support community. The Foundation, they claim, is in charge of managing funds that are meant to benefit the entire ecosystem. Unfortunately, the Foundation has decided to concentrate its efforts on “wallet and proprietary services sold by their private organization”. Further, the post accused the people in charge of the affairs of stealing the ideas of others to pass them off as their own. Dev Null Productions was not happy with this. “shameful and dishonorable” To those that are supposed to lead a Non-Profit Foundation.
The firm concluded its justification by stating that it was fed up of the XRPL project’s lackluster performance over the past few years. A recent expert also elaborated on some of the reasons. reported by Crypto News Flash.
We are tired of being outperformed by other assets. The performance of XRP in the market has always been lagging. According to the Wall Street proverb, “don’t marry your position”, XRP will never be able to catch up. If one thinks the eventual adoption by banks will result in a price increase… you thought wrong dude. You’re wrong, dude. proof The proof is in the pudding. A successful trader is one who knows how to minimize his losses.
Ripple CTO responds
David Schwartz, Ripple’s CTO in response to the post made on X explained that even if you want to keep it, there is no way to prevent selling. Schwartz, in a 2021 post, gave an example where he received a bonus of 1,000,000 XRP from Ripple and had to quickly sell the half of that amount because his marginal income tax rate was around 50%. He did not address the other allegations made by Dev Null Productions.
At the time we went to press, XRP was down by 4% In the past 24 hours, trades at $0.62.
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Source: www.crypto-news-flash.com