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XRP: Coinbase abandoned its Digital Asset Framework to list XRP, says Diar

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XRP: Coinbase abandoned its Digital Asset Framework to list XRP, says Diar
Source: Unsplash

XRP’s listing on Coinbase was one of the most contentious topics in the cryptocurrency ecosystem owing to the uncertainty associated with XRP and Ripple.

Despite Coinbase previously announcing their intent to list more assets, the addition of XRP surprised many. However, Diar claimed that the reason for such listing is because XRP was backed by its own investors, the Digital Currency Group [DCG].

Source: Diar | Vol. 3 | Issue 7

Diar pointed out,

“The potential addition of XRP has been a contentious topic within the cryptocurrency industry for the possibility of the token being labeled as a security… And as far as the exchange’s own mission of an ‘Open Financial System’ is concerned, the addition of XRP falls in line with the hopes of addressing the remittance market.”

Many people in the community suspect that either Coinbase received a hefty amount of XRP in exchange for the listing, or the exchange explicitly broke its rules and framework with regards to the listing of digital assets.

Diar claimed that Coinbase “abandoned one of their own pillars for the potential listing of a cryptocurrency” and their “Digital Asset Framework,” which listed the prerequisites required of a potential listing.

Questions arose due to the fact that Ripple holds more than 55 billion XRP in escrow with a release schedule, a clear breach of Coinbase’s Digital Asset Framework. Furthermore, there is no clarification from the Securities and Exchange Commission about the nature of XRP. If XRP were to be classified as a security token, the ramifications would be catastrophic to Coinbase and Ripple’s customers.

@yousef, a Twitter user commented,

“I’m not surprised by Coinbase’s decision to list XRP. They’re losing the battle for retail traders to Binance and need to start competing to retain their current user base.
Expect many, many more altcoins to be added to Coinbase in the near future.”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time writer at AMBCrypto and a part-time novice trader.

XRP

Ripple’s XRP Ledger Dev Portal unveils updated version of WebSocket API Tool

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Ripple's XRP Ledger Dev Portal unveils updated version of WebSocket API Tool
Source: Pixabay

Ripple XRP Ledger Dev Portal revealed an updated version of the WebSocket API Tool. The latest development in the Ripple ecosystem will enable users to directly communicate with rippled servers, which is responsible for powering the XRP Ledger Network.

An official post detailing the WebSocket update stated that the tool has been incorporated with unique functionalities to the existing tool structure. The “refreshed tool” which was launched as part of the recent site relaunch, allow users to choose which servers to connect, which will include public servers that Ripple operates, XRP Test Net servers or any server that the user locally runs on its computer. This feature is called Server Selector.

The refreshed tool provides options to connect to Ripple’s general-purpose public XRP Ledger servers, full-history public servers, Test Net servers, or to your own server running locally. This list can also change to provide more options in the future.

Another feature incorporated in the latest update is the new Permalink button. The button provides a link wherein users can use to share the current state of their inputs, which includes the request body and the selected server. The official post detailed that the Permalink feature is similar to other web tools such as JSFiddle or CodePen, which “provides a way to prepare a set of inputs and share it with others.”

Another feature is the curl Syntax Button, represented by “>_ ” icon. The button is designed to load a popup with the current inputs of the request box, which is converted into a JSON-RPC call which can be made with the curl utility.

To eliminate simple syntax errors, the upgraded tool has incorporated a feature called Error Highlighting, which as the name suggests, highlights lines with errors by placing red circled X marks.

The Message History Management will display all types of messages in one single stream, which maintains a history of the user’s previous calls until the page is closed or a different server is selected or the history is cleared by selecting the “Clear History” button. The blog further detailed,

“The amount of history the tool keeps at a time isn’t unlimited, which is another change from the previous version. By default, any time the tool receives a new message, it deletes any messages older than the most recent 50, though you can set this to be any amount you like.”





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