Ripple’s former Chief Technology Officer (CTO) David Schwartz has addressed speculation that the crypto company may ban transactions. XRP ledger (XRPL). He explained the only way this could happen is when the network is centralized.
Ripple CTO Emeritus explains how to block XRP transactions
In one X postthe former Ripple CTO said that there is no way to prevent valid transactions in the XRP Ledger unless users agree to change the valid rules to make them invalid. Schwartz made this statement in response to whether Ripple or he, as one of the original developersmay freeze the wallet and prevent the transaction.
Meanwhile, in response to who can open and lock escrows former Ripple CTO said that anyone who wants to deposit tokens can lock them in escrow. After the escrow expires, anyone can open it. Schwartz also addressed claims that the XRPL Ledger is centralized because Ripple has a “Single Node List” that effectively authorizes validators.
Ripple’s former CTO described claims that the crypto company could have absolute power and control of the chain as “objectively absurd.” He pointed out that this is like claiming that someone with mining power can create a billion BTC. Justin Bones, founder of Cyber Capital, who claimed that explained which he meant Ripple could double-spend or censor the network like someone who holds most of the mining power. Bitcoin network.
Schwartz denied this claim and stated that the XRP Ledger and Bitcoin do not work the same. He noted that in XRPL you can count the number of validators that match a node. The former Ripple CTO added that a node will not agree to double spend or censor unless there is a specific reason why the validator wants to do so.
XRPL is ‘Carefully’ Designed for Decentralization
Ripple’s former CTO reiterated that they carefully and deliberately designed the XRP Ledger to be unmanageable. He explained that they did it regulatory environment and the practical realities of being a company and investors. So there was no guarantee that they would always be in control of their actions.
Schwartz cited the example of how Ripple must comply with US court orders because it cannot refuse such requests. So they decided from the start that they didn’t want control over the XRP Ledger and it would be in their best interest not to. He also noted that if it does not mean Ripple has always censored transactions or double spent, even if they had the power to do so, because if they ever did, it would destroy trust in XRPL.
Featured image from GitHub, chart from TradingView
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