XRP experts respond to Tone Vays' allegations against Ripple

Trader Tone Vays has claimed that Ripple illegally sold its pre-mined digital tokens to people. Ripple token XRP is the company's securities and the XRP creator should take responsibility. Ripple / XRP expert Matt Hamilton responded that Tone Vays's assessment of Ripple and XRP was surprising. He noted that Ripple had no "illegal activity" in creating XRP. Ripple Labs and XRP tokens are separate entities, but they interact with each other, just as Bitcoin and Bitmain affect each other. He said that Ripple holds about 60% of the existing XRP, but has not dumped billions of XRP in the market. Ripple releases funds into escrow accounts maintained by the blockchain. Ripple explained in his blog how the escrow account works, locking 55 billion XRP (55% of total supply) to different escrow accounts. The ledger mechanism implemented based on consensus controls XRP issuance. The escrow account releases 1 billion XRP per month and will be completed within the next 55 months. Hamilton said that because the XRP ledger is distributed, only 1% of the nodes are owned by Ripple. If Ripple behaves negatively, other node holders can take action against Ripple. If Ripple no longer exists, people will continue to use XRP tokens.