XRP “very clearly decentralised”, says Ripple CEO
Ripple’s chief executive Brad Garlinghouse has furthered the debate on whether its XRP cryptocurrency is centralised or decentralised, contending that it is “very clearly decentralised”.
In a recent interview with financial news outlet Cheddar, Garlinghouse stated that no one has control of XRP and not even he can change a transaction.
“Is XRP centralised or decentralised? It is very clearly decentralised,” he said. “As CEO of the company, I can’t control the XRP ledger. I can’t change a transaction. Anybody can participate in the XRP ecosystem, and if Ripple does something that is not in the best interest of the ecosystem, the rest of the ecosystem can ignore us.”
Bitcoin and ethereum are more centralised than XRP he contended, as miners in China has the power to control the bitcoin blockchain for example. Ripple, on the other hand, is a centralised company investing in a decentralised technology.
Another factor making XRP more decentralised than its two rivals is that mining hashpower for these and other proof-of-work (PoW) cryptocurrencies tends toward centralisation within a small number of mining pools.
Holy wars and misinformation
Garlinghouse also commented: “I think there’s a lot of people out there that are fighting ‘holy wars,’ and they’re spreading misinformation [about Ripple and XRP] because they have an economic interest”. He likened Ripple’s relationship with XRP to Amazon’s investment in the communications protocols that underpin the internet.
Two months ago, Ripple’s website noted that bitcoin and ethereum are currently viewed as the gold standard for decentralisation, meaning they are architected in a way that no single individual or minority group can dictate rules or rewrite transaction.
Since these blockchains are considered decentralised, then by design, the XRP Ledger is also, if not more so, decentralised, than both bitcoin and ethereum.