Ripple asserts that it does not control the XRP Ledger

robot
Abstract generation in progress

CTO Ripple – David Schwartz – stated that the company only operates about 1% of the XRP Ledger network and has no control over transactions. He emphasized that there is no "backdoor" in the source code for Ripple to unilaterally control the network.

Although Ripple is a major contributor to the XRP ecosystem and holds billions of XRP tokens, Schwartz asserts that any changes in transaction processing must be approved by 80% of the network. According to him, censoring transactions would make the company a target for pressure.

Currently, the XRP Ledger network has 186 active validators, while Ripple operates only one. Rumors about Ripple's control still exist within the community, but the company has gradually reduced the number of validators it owns since the launch of the XRP Ledger in 2012.

XRP0.3%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)