Ripple Research Update: XRP Transactions Are Not Used For Spam

The latest Ripple research update shows that only a small fraction of all transactions in the Ripple network as well as in the EOS and Tezos network are used for value transfers. The CTO of ripple David Schwartz explained that the results are not a surprise because of the technical nature of the ledger as we are reading further in the following Ripple news.

The Ripple research update shows that most of the transactions of the larger blockchain projects are empty and they do not transfer value. This statement exploded on Twitter and caused a heated debate within the community. David Schwartz, of course, took part in the debate. In the new reports, the authors Daniel Perez from the Imperial College London and Jiahua Xu, a researcher from the University College London along with their chief scientist Benjamin Livshits, examined the three types of transactions on larger blockchains regarding purpose and value.

Ok…so my mom sent me this. She wants @JoelKatz or @WietseWind to explain this possible #FUD on #XRP / $XRP or she’s pulling my #funding ! My Mom’s name is Linda & it means beautiful. I don’t want an XRP Awkward #MothersDay #xrpcommmunity @sentosumosaba @cz_binance @Kevin_Cage_ pic.twitter.com/TwrdJkGBmf

— XrpBobaFett (@xrpbobafett) May 8, 2020

All of the blockchains have e high throughput but most of the processed transactions could be useless. The report also concluded that only a small portion of the examined transactions are actually used for value transfers by Ripple, EOS, and Tezos. About 95% of all transactions at EOS were used for worthless airdrops. 82% of Tezos’ transactions were only maintaining the consensus. Ripple’s 2% of all transactions were used for value transfers.

A member of the Ripple community contacted the Ripple developers and Ripple’s CTO who clarified the answer to these allegations:

‘’The throughput on the XRP ledger during our observation period appeared to be fraught with zero-value transactions. We learned that both transaction volume and token value on the XRP ledger are highly manipulable.’’

Schwartz explained that he agrees with the report and the huge part of the transactions on the ledger are marked as ‘’empty.’’ This is because of the high speed, capacity and submissions of value closer to zero. The result is not a big surprise:

‘’I believe it. Transactions are so fast and cheap and the ledger has so much capacity, little incentive not to submit near zero value txns. Not long ago, 50% off all public decentralized ledger txns were on XRPL!’’