XRP Clarifications Still Need Some Weight For The Community To Accept It As Decentralized
This isn’t the first run through XRP’s official has come to elucidate their position of being decentralized. In July David Schwartz in UNCHAIN Convention, clarified that Ripple as a company isn’t decentralized, it’s the XRP ledger which Ripple doesn’t have any legitimate right to control it. The code that controls how the ledger runs is controlled by the exchanges, power users wallet operators alike He had additionally said Ripple doesn’t have the ability to put codes on another person PC. He trusts that the Centralization of criticism originates from the way that Ripple holds a substantial part of XRP. As per him, it is important to hold those coins as it enables Ripple to seek after use cases which are important to work the income model.
Schwartz as of late additionally distributed another report entitled “The Inherently Decentralized Nature of XRP Ledger” in which he depicts the idea of centralization in the blockchain world as “wildly nuanced, misunderstood and, frankly, evolving.” He is obviously attempting to set the record straight for the last time for the issue of XRP’s decentralization. In the report, he expresses that
“Put simply, the XRP Ledger is based on an inherently decentralized, democratic, consensus mechanism — which no one party can control.”
XRP and Ripple team have been pushing and clarifying the XRP is decentralized and not a security but rather still every time another inquiry is raised on their centralization viewpoints be it coins or validators. It is accepted just once SEC clears its position on XRP being a security or not will finish this discussion.