Ripple Is More Decentralized Than Bitcoin Says Executive

Nishanth Shetty

August 25, 2018 3:39 pm

Ripple News

Ripple Is More Decentralized Than Bitcoin Says Executive | Coindelite News
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The Senior executive of Ripple has caused controversy by claiming Ripple’s ledger is decentralized. David Schwartz, CTO, Ripple said in a post that Ripple XRP token is “inherently decentralized.”

David stated that Bitcoin and Ethereum are currently seen as the gold standard for decentralization. It means they are created in a way where no single individual or minority group can dictate the rules or change transactional history.

He included:

“Since these blockchains are considered decentralized, then by design, the XRP Ledger is also not more decentralized than both Bitcoin and Ethereum.”

Ripple has sparked a backlash multiple times in recent months. Schwartz and CEO Brad Garlinghouse made several comments on the issues. They spoke about their firm and the XRP token that many criticised as misleading.

In June, Schwartz said Ripple is not a distributed ledger, and it is supposed to be the main client base. The banks did not want to use it.

Confusion is Spread all over.

As the controversy took place all over on social media, WhalePanda from Twitter appeared concerned with the company’s stance.

WhalePanda stated:

“What [XRP] is now trying to do is take 1 small aspect of decentralization (validating) and try to tell a fairy tale about how they’re decentralized, All this in order to try to get listed on more and bigger exchanges to pump the price while at the same time trying to avoid getting delisted on others.”

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