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Charles Hoskinson Believes XRP to Be Commodity, Shiba Eternity Sets Historic Record, Ripple Keeps Hiring Amid Bear Market: Crypto News Digest by U.Today

10 Oct, 20223 min readAltcoins
Charles Hoskinson Believes XRP to Be Commodity, Shiba Eternity Sets Historic Record, Ripple Keeps Hiring Amid Bear Market: Crypto News Digest by U.Today

Take a look at what happened in the world of crypto over the weekend with U.Today’s top four news stories.

Cardano founder says XRP should be regulated as commodity, here’s why

Cardano and IOG founder Charles Hoskinson expressed his opinion on the legal status of XRP. He believes that the Ripple-affiliated token should be regulated as a commodity, not a security. To back up his argument, Hoskinson wrote that the majority of Layer 1 protocols (which includes XRP) offer utility and have a sufficient degree of decentralization in them, hence, they are not securities. Plus, they pass the Howie test, which shows whether an asset is a security or not. Besides, according to the Cardano founder, “commodities survive those who aggregate them”. In the case of Ripple, he wrote that the company has created “something that has an ecosystem that will survive Brad [Garlinghouse, CEO], Chris [Larsen, co-founder], David Schwartz (CTO) or anyone else.”

Shiba Eternity sets historical record for Shiba Inu day after release

Only one day after the long-awaited Shiba Eternity launch, the number of SHIB holders increased by 2,220, bringing great marketing success to its creators. According to CryptEye, this resulted in the number of addresses holding at least one Shiba Inu token reaching a new all-time high of 2,193,520. This is indirectly confirmed by the number of downloads of Shiba Eternity: downloads on Google Play exceed 10,000. Even though it is impossible to know the exact number of downloads of the game on the App Store, the free-to-play card game has managed to make it into the top 20 games on Apple's platform. In total statistics, the number of SHIB holders has increased by 171,763 since July, while 104,200 have been added only since the beginning of September.

Ripple keeps hiring amid bear market

Good news for candidates who always dreamed of joining Ripple: the fintech giant seems to be standing by its promise to continue hiring even during a severe bear market and recently posted a job opening for a full-stack engineer. Ripple’s new hire will be part of the company’s design and marketing team, managing the company’s websites, with his or her main duties being guiding technology decisions and implementing different strategies. The vacancy description also says that the candidate must have deep knowledge of web development and be “a strong leader and communicator” who will be capable of spearheading an in-house team of front-end developers. Earlier this month, the company has already posted a slew of job openings, including a lead digital designer.

Here's how to build XRPL smart contracts on testnet

Equilibrium’s software developer Jani Anttonen shared a presentation about the functionality of Hooks Builder, a toolkit for building XRPL Hooks. It is expected to alter the course of XRP Ledger's history as a programmatic blockchain. As stated in the presentation, XRPL Hooks operations are slightly different from those of "regular" smart contracts (on Ethereum, BNB Chain, etc.) and should be treated as "event listeners" that can be triggered by certain events on the blockchain. Thus, they provide XRP Ledger with some fundamental DeFi functionality. With Hooks Builder, everyone can choose from preset Hooks samples and deploy their own to the testnet in a seamless low-code manner. However, as stated by seasoned XRPL devs, this upgrade might not be released on the mainnet in the coming months.

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