Ripple’s XRP Coins Has a Brand New Logo
After the XRP community raised the issue of XRP and Ripple having the same symbol, stating that it caused confusion as to the relationship between the company and the coin, a new XRP logo was suggested. And new logo has finally debuted.
Ripple Labs Inc., the company behind the coin only utilizes the XRP Ledger and XRP cryptocurrency. Owning XRP does not mean that one has a claim over profits of the Ripple company, or that they have a claim of resources, which would lead one to believe that it is not a security. However, as multiple lawsuits can confirm, many people fail to contrast these.
XRP community voted for their choice for the symbol that best represented the ecosystem. The voting started on June 1st, with the first round ending on June 8th. There were 3 logos that went to final round for voting to decide the one to be chosen. The final round was held on June 12th and symbol chosen beat the other two by nearly 2,000 votes. The logo is a minimalistic one which keeps up with the current silicon valley trend.
The site where the voting took place, xrpsymbol.com, said the following about the new symbol:
“XRP, unlike other cryptocurrencies, does not have a symbol that represents units of the asset. In order to distinguish XRP and better define it, a symbol will be created to use it when writing the amount of XRP, this symbol will also be used to represent the asset in place of Ripple’s trademark, mainly the 3 connecting circles triskelion.”
The symbol was quickly everywhere in the internet. Now when you look at CoinMarketCap for the 3rd largest currency, the new logo will appear.
In summary, it is a big step forward for Ripple and XRP to have unique logos distinguishing one from the other. Now, XRP’s assets, namely utility, speed, and independence are expressed in a way that adds credibility to the coin. The new symbol will be submitted to the Unicode Consortium to have it officially recognised as a Unicode Standard character.