Ripple doesn’t control the XRP network and is very decentralized, according to director Matt Hamilton

XRP has a reputation for being centralized, but how true is that claim?

Matt Hamilton, Director of Developer Relations at Ripple, has corrected a misunderstanding about XRP and XRP Ledger.

Matt Hamilton – Director of Developer Relations at Ripple

Before the lawsuit between the SEC and Ripple, the story centered on the fact that XRP is not a “real” cryptocurrency. This is mainly due to the criticism of the “closed” central nodes of the network.

This led to ongoing resentment among XRP owners and the rest of the crypto community. Fast forward to now, while Ripple continues to dominate the SEC case, the questions remain deep on everyone’s mind.

But is there any truth in the matter?

Can XRP transactions be restricted?

in a meeting interview With the Crypto Jebb YouTube channel, Hamilton offers his views on how to dispel misunderstandings about Ripple.

Hamilton said the terms centralization and decentralization mean different things to different people. Because of this, the community cannot decide whether the status of XRP is a centralized or a decentralized network.

But for Hamilton, decentralization means that everyone can use the network without restrictions. So, he said, no party can prevent XRP users from doing transactions on the network if they want to.

“The most important criterion is that you don’t want someone blocking, censoring, or restricting your use of the network, right? I want to be able to go without paying, you know, in spite of it. In this respect, the XRP ledger is very decentralized. “

He added, “Nobody can accept XRP and transactions cannot be censored, which is an important step in decentralization.”

Ripple does not control the XRP network

Another controversial issue concerns the concentration of nodes on the XRP ledger. A node connects to the network to validate and forward transactions while keeping a copy of the ledger.

Full nodes ensure that a specific set of rules is followed. The risk here is that a dominant entity will have control over a number of nodes and manipulate the network.

The XRP Ledger currently has 156 validating nodes, 19 of which can be recognized as ripple nodes, which means that Ripple controls 12% of the nodes.

Hamilton confirmed this by saying that ripple nodes make up only a small percentage of the network. Additionally, an 80% consensus is required to validate transactions. Therefore, Ripple cannot manipulate the network.

“The network itself is decentralized. Ripple controls only a few percent of the nodes in the network. And the consensus algorithm means that you need 80% consensus on transactions. So neither party can unilaterally control it. “

To wrap up the debate, Hamilton said that although Ripple holds most of XRP as a “trust-based” consensus algorithm rather than a proof-of-stake (POS) model, regardless of the amount of XRP it holds, the amount of XRP it holds Crowd is exercised control.

Teacher

According to Cryptoslate

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