This is a self-assessment, meaning, it is information that the issuer has written themselves. The XRP Ledger Foundation does not recommend or endorse any individual token. Read more.
Basic information
Project name: XBitcoin
Currency: XBitcoin (58426974636F696E000000000000000000000000)
Issuing account: rEZUrwTh4LrX57Q9a4JAf5BVWc2XGcrAEE
Distribution accounts: rJDhkGe3jwkmvpKXyfQw1XPSoKhHeyECdm
This is revision number 1, signed May 5, 2022 by rJDhkGe3jwkmvpKXyfQw1XPSoKhHeyECdm
Description: Bitcoin is the most famous cryptocurrency on the planet. XBitcoin has been created on the XRP Ledger. This token unlike its counterpart has lightning speed and near-zero transaction costs. The issuer account has been black holed (supply fixed)
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
- Has built in brand name recognition
- Account is black holed; supply is fixed
- Much cheaper and faster to transact than most meme coins
Purpose: What is the reason for issuing a new token, rather than using an existing? What purpose does this token serve, that is not possible with the native XRP token or other already existing tokens?
Bitcoin has been created on the Bitcoin blockchain, which requires large transaction fees and is slow. XRPL coins/tokens are GREENER (gas fees) and FASTER (3-5 second settlement)
There is no link to a whitepaper or sales material.
Risk reminder: The issuer has disclosed a warning or a reminder of the risks associated with crypto/tokens.
Bug bounty program: This is not applicable for this token.
Sovereign Entity
The self-assessment is made by a soverign entity (i.e. not a legal entity, such as a general partnership, limited partnership, private limited company, public limited company, corporation, commercial association or other).
The issuer does not have a website.
Legal requirements: Legal requirements may vary per country and project. It is the responsibility of the legal entity to ensure legal compliance.
The issuer has assessed whether and what legal requirements apply to the project (licenses, jurisdictions, anti-money laundering regulations etc).
Self-assessment revisions
| Revision | Date |
|---|---|
| Revision 1 | May 5, 2022 |