David Schwartz, the CTO of Ripple, explained why XRP’s transactions can not be blocked and hence the network is secure.
With the current market value of $10.0 billion, Ripple (XRP) is now the third-largest digital asset globally. During the early Asian hours, first, the coin bottomed at $0.2280 and then at the time of writing recovered to $0.2300. The currency is showing strong bearish sentiments amid increasing volatility and has lost almost 3% market value in the last 24 hours.
The crypto market is still in the consolidating phase despite some bullish momentum in the new year, however, XRP has failed to ride on the small bullish busts as well. XRP has already lost 3% of its market value after failing to break past the $0.30 barrier throughout 2019. Ripple has been at the receiving end of critiques as well because of the centralization of XRP's supply. Ripple is also accused of interfering with the network operations along with centralisation.
David Schwartz, the chief executive officer of Ripple and an architect of XRP ledger, took to Quora recently to answer a few queries of people related to XRP and Ripple. One question, in particular, caught the eye of the Crypto World when someone enquired whether XRP transactions can be blocked by a third-party to which Schwartz replied in negative. He explained how blocking XRP’s transactions seem theoretically possible but practically is not achievable.
He commented on Quora that presently there’s no way that anyone could stop valid transactions from executing. He added that as the network is entirely decentralised, nothing can stop anyone from writing codes that block legitimate transactions. However, it would need convincing a majority in order to run that code and prevent the transactions.
XRP despite its sub-par performance in the past one and half year has maintained its 3rd position mainly because of the continuous supply and that is one of the main reasons behind the centralization debate.