'Far too centralized': ripple and $XRP smashed by seasoned analyst Justin_Bons Ripple
Analyst Justin Bons, a cryptocurrency veteran and head of the oldest European blockchain fund Cyber Capital, explains why decentralization narratives do not work for XRP Ledger.Mr. Bons has taken to Twitter to share that XRP Ledger blockchain is not permissionless, as it relies on a permissioned ecosystem of nodes selected by centralized entities or individuals.
As per Mr. Hamilton, XRP Ledger's version of PoA represents the same type of social contract as the one used by all first-gen blockchains, including Bitcoin and its forks.The two opponents disagreed about the role of XRPL Foundation's Unique Node List , i.e., its set of active XRP transaction validators.
Mr. Bons highlighted that validation power on XRP Ledger is only controlled by members of the"official" UNL. Meanwhile, in October 2022, XRPL Foundation, the nonprofit that oversees XRPL's development, stressed that two Ripple-associated validators were removed from UNL.
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