Ripple cannot control XRP -Grootboek: CTO David Schwartz

The Codebase of XRP Ledger has no secret back door with which Ripple could control the network on his own, according to the Chief Technology Officer David Schwartz from the digital payment company.

Despite the continuous adoption of XRP Ledger under financial institutions, the misconception is that “Ripple controls the ledger somehow,” he said Decrypt In a recent interview.

“We make an important contribution to the ecosystem. It is clearly very important to us,” he said. “But we have no interest or wish in running the network.”

https://www.youtube.com/watch?v=CDXN-6_GZEC

Have corners of the crypto industry Early the decentralization of XRP Ledger For years, marking a low number of validators compared to other networks such as a potentially weak point. XRP itself has also been in control because Ripple has billions of XRP tokens.

According to around 23,000 Bitcoin nodes, it could be reached worldwide on Wednesday Bitnodes. In the meantime, XRP whides 186 had validators online, according to Xrpscan. Everyone can run a validator and Ripple is responsible for one according to XRP Ledger website

SCHWARTZ acknowledged that Ripple is perhaps the most interested participant in the ecosystem of XRP Ledger – as a provider of infrastructure updates and fairs – but he said that Ripple cannot dictate which activity finds on XRP whides, nor would it want to. Changes that the transaction processing on XRP whides would need 80% of the network.

“We would not want to be able to censor transactions because people can put pressure on us,” he said. “Nobody has ever had a transaction that Ripple stopped. If they did, they would say so.”

Schwartz was a co-founder of XRP whides before he came to Ripple, and his fundamental role can invite comparisons with Ethereum and his relationship with co-founder Vitalik Buterin. However, the control of Ripple about the supply of XRP is relatively different, with the largest holders of the active one.

From October, Ripple said It kept 38 billion XRP in Escrow, a considerable part of the 100 billion XRP that had been given to it in 2012 by XRPL’s co-founders. As a result, some critics believe that Ripple has the opportunity to influence XRP’s scarcity by influencing the scarcity of XRP by selling periodically tokens.

Ripple’s decentralization strategy has been going on since XRP Ledger debuted in 2012, and that has included the number of important validators that the company manages.

The security of XRP Ledger is based on unique junction lists. Each validator maintains a list of network participants from whom he trusts not to work together. The XRP Foundation maintains a standard unique junction list, which is popular on a large scale, and is used to include different validators of riders.

Since July 2023, Ripple has performed one of the 35 validators on the standard unique junction list of the XRP Foundation, according to the Website of the company. And that represents a small part of the general network, said Schwartz.

“We have something like 1% of the network,” he said. “We have no control over transactions.”