Ripple Rumors Fly Through XRP Community As Ledgers Sees a 3x Surge in Number of Accounts
The XRP Ledger experienced an impressive surge on March 22nd in the number of ledgers, starting at 23,000 as an average and running up to 75,000 ledgers. At the same time, the platform saw a decrease in the ledger close interval, ringing alarm bells in the community to figure out what was happening.
Some of the members of the XRP community began to wonder if the Cobalt update going live that causes the increase. If it was implemented, the ledger close interval would go down to no more than a single second. Right now, the ledger close interval time is about 3-4 seconds, so Cobalt would make a big difference.
However, it was not Cobalt, according to the lead developer, Ethan MacBrough. If it was Cobalt, a full upgrade would need to be done on the XRP Ledger. That level of upgrade could never be done without a notification beforehand.
Another potential reason behind the spike that the community thought of was that SBI Group could be testing out remittances. A Twitter user added on this suggestion that, if the Cobalt upgrade had been implemented, everyone would know because it would end up as “a large unveiling.”
Lower friction corridors? Or maybe even testing internal remittances like SBI are reportedly going to do with the money tap app?
You'll know when cobalt is live because that shit ain't going to just happen, its going to be a large unveiling
— Stewarty 🏴 (@stew_art1982) March 25, 2019
Realistically, as another user pointed out, the fact that the XRP community has to predict or theorize what happened to cause the spike is “weird.”
The user joked about the fact that XRP Ledger is supposed to be public but that only a select few know exactly what happened. The user suggested that Ripple, Joel Katz, and Nik Bougalis were among the secretive group.
What's the most weird of all is that the #XRPcommunity starts to "guess" as nobody knows what exactly happened#XRPLedger a public network?
Not really…. as it seems only @Ripple and guys like @JoelKatz or @nbougalis probably knowing but not telling the interesting detail ;-)
— Marc C (@marccwr) March 25, 2019
Replying to the tweet, Bougalis commented that the whole xrpcharts was down for a while, as the XRP Ledger continued functioning.
Once xrpcharts came back up, all of the data was updated to the XRP Ledger, which is how he explained the spike, adding that it shouldn’t be considered as “indicative” or any big changes or updates.
As I tweeted yesterday, the xrpcharts backend was down a short period of time. The XRP Ledger, of course, continued operating so when xrpcharts came back, it had to backfill.
The “spike” is likely an artifact caused by the backfill and is not indicative of anything.
— Nik Bougalis (@nbougalis) March 25, 2019
If what Bougalis said is true, then the proponents of XRP have nothing to be concerned about, because it would simply be an anomaly.
Still, explaining this change as an anomaly would be the simplest way to cover up if something is going on, which seems to be how the XRP community feels.