【The XRP vulnerability has been patched】
Everyone thought a vulnerability that could “mint XRP out of thin air” was hugely bearish, but $XRP Binance was at 1.408 at 17:04, still up 0.92% over 24 hours.
The market isn’t worried about the vulnerability itself, because developers say they found no evidence it had ever been exploited on the public network. What’s really sparked debate is how the patch was rolled out.
According to Cointelegraph, this integer overflow vulnerability had existed since 2015. The emergency patch on September 25 bypassed the usual amendment vote, which normally requires over 80% of validators to support it continuously for two weeks before it takes effect.
Cyber Capital founder Justin Bons criticized the patch for being released as binaries first, with the source code made public later. The XRPL Foundation responded: coordination is not control.
My take: this won’t hurt the price in the short term, but the “fully decentralized” argument has been weakened. That’s a long-term concern in the debate over whether XRP is a security.
If the 4H candle closes below the support zone around 1.38, that would show the market is starting to price this in, and I’ll admit I was wrong.
Which concerns you more: the vulnerability itself, or the patch bypassing the vote?
Sources: Cointelegraph, CoinDesk
$XRP #XRP #Cryptocurrency
#BinanceSquare
⚠️ The above is a summary of information and personal opinion, not investment advice. DYOR.
Everyone thought a vulnerability that could “mint XRP out of thin air” was hugely bearish, but $XRP Binance was at 1.408 at 17:04, still up 0.92% over 24 hours.
The market isn’t worried about the vulnerability itself, because developers say they found no evidence it had ever been exploited on the public network. What’s really sparked debate is how the patch was rolled out.
According to Cointelegraph, this integer overflow vulnerability had existed since 2015. The emergency patch on September 25 bypassed the usual amendment vote, which normally requires over 80% of validators to support it continuously for two weeks before it takes effect.
Cyber Capital founder Justin Bons criticized the patch for being released as binaries first, with the source code made public later. The XRPL Foundation responded: coordination is not control.
My take: this won’t hurt the price in the short term, but the “fully decentralized” argument has been weakened. That’s a long-term concern in the debate over whether XRP is a security.
If the 4H candle closes below the support zone around 1.38, that would show the market is starting to price this in, and I’ll admit I was wrong.
Which concerns you more: the vulnerability itself, or the patch bypassing the vote?
Sources: Cointelegraph, CoinDesk
$XRP #XRP #Cryptocurrency
#BinanceSquare
⚠️ The above is a summary of information and personal opinion, not investment advice. DYOR.