XRP Centralization Controversy Sparks Heated Debate
Main Idea
A debate has been sparked between Caitlin Long and Ripple's CTO David Schwartz over the centralization and progress of the XRP Ledger, with Long criticizing its centralized nature and delayed stablecoin entry, while Schwartz defends its independence and design.
Key Points
1. Caitlin Long criticized the XRP Ledger as centralized and lagging, citing Ripple's late entry into the stablecoin market with RLUSD as a failure.
2. David Schwartz countered by inviting open discussion, stating that most network validators operate independently of Ripple and that XRP had no inherent value at launch in 2012.
3. Long argued that banks are skeptical of the XRP Ledger due to its centralization, with the pre-mined 100 billion XRP and Ripple's escrow accounts fueling transparency debates.
4. Schwartz clarified that RLUSD was designed to showcase the blockchain's smart contract capabilities, though most of its supply resides on Ethereum, reinforcing centralization concerns.
5. The community is divided, with some defending Ripple's efforts amid regulatory obstacles, while others question Schwartz's defense of XRP's market dynamics.
Description
Caitlin Long criticizes XRP Ledger's centralization, inciting debate with David Schwartz. Ripple's delayed stablecoin market entry seen as acknowledgment of past failures. Continue Reading: XRP Centralization Controversy Sparks Heated Debate The post XRP Centralization Controversy Sparks Heated Debate appeared first on COINTURK NEWS .
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