Ripple (XRP) CTO Clearing Concerns About Decentralization of XRP Ledger
The raging debate around the crypto community on the de-centrality of Ripple has raised myriad questions of the digital asset’s real utility. Meanwhile, as most people hold that the coin might not be decentralized as it should for a cryptocurrency; given the fact that it cropped from a single company. David Schwartz, Ripple’s Chief Technology Officer set out to clear the debate. Schwartz outlined that several crypto proponents talk about XRP and its ledger, and their use cases but fail to consider the reason most entities are implementing the technology. In a bid to help XRP followers understand the various intricacies of the XRP ledger, David posted a publication on Ripple’s website.
Schwartz began by shunning the project conservatism that takes place in the crypto space, where proponents support only one project without taking note of the input from the entire crypto community. The rise of these separation has inhibited the growth of the industry as a whole, and hence it's potential to develop in the coming years. Further on, he notes that the industry would perform much better through the promotion of interoperability among different blockchain ideas, projects, and startups. This way, the industry can easily tap into the full potential of decentralization and possibly manage to solve existing challenges. The weight of this statement, could necessitate Ripple’s need to support interoperability in the crypto industry, through its XRP ledger.
Ripple Censorship Policy
Additionally, the Chief Technology Officer highlighted the working and inner structure of the XRP ledger. Stating that the ledger performs in a way to totally enforce complete decentralization, while maintaining a strong censorship policy.
As a result of the policy, no single entity across the network would have the ability to make central decisions. Hence, once a transaction is added to the ledger, it is not possible to change or rescind it.
Finally, the use cases for Ripple are beyond. For instance, some commercial banks are utilizing XRP high liquidity support and using it for cross border transactions.
About The Author
Richard M AdrianBlockchain Analyst with a demonstrated history of working in the writing and editing industry. Skilled in WordPress, Editing, SEO Copywriting, Copy Editing, and Blog Marketing. When I am not writing, analyzing bulls/bears - I will be listening to music, reading a thrilling novella or hiking. Email me at Richardmadrian@gmail.com - And we could talk about anything - business or dragons.
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