In an effort to promote transparency and dispel ongoing “FUD” about XRP, Ripple CEO Brad Garlinghouse recently sat down for an “ask me anything” (AMA) conversation with Ripple’s SVP of marketing, Monica Long.
A major aspect of the conversation centered around the decentralization of XRP, a point of contention for many within the crypto community. In the discussion, Garlinghouse emphasized that Ripple only runs seven network validators, which comprises only around 4% of the all public validators.
“By almost any measures now, the XRP ledger is more decentralized than the Bitcoin ledger or Ethereum ledger, where you have a very small number of miners controlling, you know, well past 50% of mining power,” Garlinghouse added.
This argument matches what David Schwartz, the CTO of Ripple, detailed in a recent blog post titled “The Inherently Decentralized Nature of XRP Ledger,” where he attempted to dispel the ongoing criticism that XRP is overly centralized.
Schwartz states that the XRP’s ledger is not at risk as its consensus protocol requires validators to record and verify transactions without any incentive, and limits the weight of each validator to one vote.
Despite the criticism, XRP has gained market share over the last few months and now ranks as the 2nd largest cryptocurrency with a market cap of $14.9 billion.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.