Blockstream CEO and Bitcoin investor Adam Back, who made strong claims that he was Satoshi Nakamoto, made a very interesting statement today. Adam Back stated that the biggest failure of the XRP Ledger and the developers behind XRP was that they “lost” the first block of the network known as the Genesis block.
Yah that's the funniest fail yet. Lose some of the blockchain history, working copies goes from 1 to 0. Watch out eth… https://t.co/ebrUEIbhHX
— Adam Back (@adam3us) August 27, 2020
It actually started with Monero developer Riccardo Spagni pinning at Ripple co-founder Chris Larsen. Back, who participated in and added to Spagni’s sarcasm, pointed to the interesting event. XRP Ledger, the first week in the life of XRP’s blockchain network, has indeed been deleted.
Big XRP Error from Ripple
So what exactly is this claim based on? In fact, the post published by Ripple CTO David Schwartz on the Bitcointalk forum in 2013 seems to be the source of this. The CTO announced that the early days of the network were completely erased due to a technical problem and error that Ripple had at the time. This reveals the fact that the XRP network can only be followed from block 32,570.
Although Back does not explicitly emphasize this, some comments on social media emphasize that the first blocks may not have been deleted due to a technical error. Ripple’s ownership of a large portion of the XRP supply also raises suspicion and fear of centralization about these claims.