David Schwartz, chief technology officer at Ripple Labs, has published a paper claiming XRP cryptocurrency is actually more decentralized than Ethereum and BTC, in the latest attempt to persuade the skeptics. The publication coincides with developments in the high-profile class action lawsuit against the firm and its XRP token, with the plaintiff Ryan Coffey alleging the tokens had been pre-generated, and that the Ripple model was essentially a “never-ending ICO.” While it has emerged recently that Coffey has withdrawn the case, the doubters around Ripple are becoming increasingly more critical, both of the organization and its token. In his report, titled ‘The Inherently Decentralized Nature of XRP Ledger,’ Schwartz argued that despite the growing criticisms, the XRP Ledger was moving in a more decentralized direction—in contrast to BTC and ETH, which are becoming more centralized. “While [BTC] and Ethereum are becoming more centralized over time, the XRP Ledger is getting more decentralized,” he wrote. “The XRP Ledger is and always has been inherently decentralized because the users always retain the freedom to change their UNLs and the corresponding validators that they trust. Ripple’s validators do not wield meaningful power over the XRP Ledger.” However, according to an independent study by Bitmex Research, the fundamentals of XRP remain centralized. It noted, “Since the keys were all downloaded from the Ripple.com server, Ripple is essentially in complete control of moving the ledger forward, so one could say that the system is centralized.” Decentralization has become increasingly topical, after a ruling by the U.S. Securities and Exchange Commission (SEC) that Ethereum could no longer be considered a security because it has become “sufficiently decentralized.” XRP, on the other, the majority of which remains under Ripple’s ownership and control, appears to fail that test in the eyes of its critics, which could feasibly result in further legal problems for the firm in the future. This lack of decentralization is also thought to have been one of the main reasons the token’s application to list was rejected by leading exchange service Coinbase. Even with Schwartz’s paper, it seems there are many who remain unconvinced about Ripple’s claims to be decentralizing. Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.Read More Ripple CTO claims XRP crypto coin 'more decentralized' than BTC : https://ift.tt/2BIUuhfPartner By desimpul.blogspot.com The materials on Desimpul's website are provided on an 'as is' basis. Desimpul makes no warranties, expressed or implied, and hereby disclaims and negates all other warranties including, without limitation, implied warranties or conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights. Further, Desimpul does not warrant or make any representations concerning the accuracy, likely results, or reliability of the use of the materials on its website or otherwise relating to such materials or on any sites linked to this site. In no event shall Desimpul or its suppliers be liable for any damages (including, without limitation, damages for loss of data or profit, or due to business interruption) arising out of the use or inability to use the materials on Desimpul's website, even if Desimpul or a Desimpul authorized representative has been notified orally or in writing of the possibility of such damage. Because some jurisdictions do not allow limitations on implied warranties, or limitations of liability for consequential or incidental damages, these limitations may not apply to you. Accuracy of materials The materials appearing on Desimpul's website could include technical, typographical, or photographic errors. Desimpul does not warrant that any of the materials on its website are accurate, complete or current. Desimpul may make changes to the materials contained on its website at any time without notice. However Desimpul does not make any commitment to update the materials. Links Desimpul has not reviewed all of the sites linked to its website and is not responsible for the contents of any such linked site. The inclusion of any link does not imply endorsement by Desimpul of the site. Use of any such linked website is at the user's own risk. Modifications Desimpul may revise these terms of service for its website at any time without notice. By using this website you are agreeing to be bound by the then current version of these terms of service.
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