Ripple CTO Sets the Record Straight about XRP Once and for All
Main Idea
Ripple CTO David Schwartz clarifies that Ripple does not control the XRP Ledger, emphasizing its decentralized nature and the misconception about Ripple's influence over it.
Key Points
1. David Schwartz, Ripple's CTO, debunks the myth that Ripple controls the XRP Ledger, stating it is a public, decentralized blockchain.
2. Ripple operates only around 1% of the XRP Ledger network, with most validators being independent of the company.
3. The XRP Ledger has been running since 2012 as a fully decentralized system, with no single entity able to unilaterally block or censor transactions.
4. XRP's price at the time of reporting was approximately $3.21, with forecasts suggesting it could reach $5 by year-end due to growing confidence and clarity about its decentralization.
5. Schwartz's remarks aim to reinforce that the XRP Ledger is public, decentralized, and censorship-resistant, addressing lingering doubts about centralization.
Description
In a recent video shared by Xaif on X, David Schwartz, Chief Technology Officer at Ripple , directly addressed and debunked one of the most persistent myths in the crypto space: the belief that Ripple controls the XRP Ledger. According to Schwartz, this misconception is not only false but also fundamentally misunderstands how the XRP Ledger operates. “By far the biggest misconception is that Ripple somehow controls the ledger,” he said. “It’s a public blockchain. Every node enforces every rule. ...
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