The issue of decentralization in relation to ripple and XRP is growing several times. Although there is no direct connection between ripple and XRP, there is still some connection. Without a ripple, XRP would probably never have been so successful, because in one of Ripple's payment solutions, XRP is used as a bridge currency, giving XRP a real use case.
All transactions in the XRP header are supported by various validators (similar to Node) Bitcoin) verified. In recent years, most of these validators were from Ripple itself, but the company has managed to minimize the number of its own validators in recent months. Currently, 79% of all validators are not under the control of Ripple. This makes the XRP book more decentralized.
Ripple reduces its validation share in the XRP book
According to an XRP validation list, only about 21
There are no miners in the XRP Ledger, as all coins have been created in advance. 20% of XRP 100 billion was allocated to the three major developers and 80% to Ripple Labs. This eliminates the need for mining and automatically results in a centralized distribution of XRP. Currently, over 50% of all XRPs are in Ripple's hands.
Ripple allows operators to link each node to a specific domain under their control. According to the official website, this promotes trust and transparency. The company said they plan to further reduce their footprint in the future and ultimately outsource the process to third parties.
While everyone can currently set up a validator in the XRP book, they can be included in the official UNL list of Ripple, the validator must be verified by the ripple itself at the moment.
Ripple promotes further use cases for XRP
The CoinField crypto exchange has recently created an XRP validator and is currently working on a new project based on the XRP ledger work. According to the official announcement on Twitter, CoinField said the project will be a game changer.
We have a large team of consultants in our upcoming # XRPL project. All are well-known characters in the cryptocurrency space. I will be happy to announce the project name and details very soon. This will be a game changer!
Ripple continues to work hard to adopt XRP, and not only in connection with RippleNet as a bridge currency. The company has recently invested $ 750,000 in portfolio service provider BRD to further increase its approval of XRP.
The partnership and investment enables BRD users to own, buy, sell and sell XRP to anyone in the world.
There is no unanimous answer to the question of whether XRP is sufficiently decentralized. Because decentralization depends on many different factors. Although the reduction in validation shares in Ripple is a good sign, the centralized distribution of XRP coins remains.
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