Ripple Cannot Control XRP Ledger: CTO David Schwartz
Main Idea
Ripple's CTO David Schwartz clarifies that Ripple does not control the XRP Ledger and runs only a small fraction of its validators, emphasizing the network's decentralization and resistance to censorship.
Key Points
1. Ripple does not control the XRP Ledger, and censoring transactions would expose the company to external pressure.
2. Ripple operates approximately 1% of the XRP Ledger's validators and has no unilateral control over network activity.
3. Changes to the XRP Ledger require approval from 80% of the network, ensuring decentralized governance.
4. Ripple holds a significant portion of XRP (38 billion out of 100 billion) in escrow, raising concerns about its influence on the asset's scarcity.
5. The XRP Ledger has 186 validators, with Ripple running only one on the default Unique Node List since July 2023.
Description
Most validators on XRP Ledger are not affiliated with Ripple, he said.
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