Ripple CTO David Schwartz Clarifies XRPL Decentralization: Details

In the latest development, Ripple Chief Technology Officer David Schwartz sheds new light on the decentralization aspects of the XRP Ledger.

The statement by Ripple CTO, David Schwartz, regarding the lack of an issuer for XRP is a crucial point in understanding the token's unique properties and how it stands apart from other cryptocurrencies.

It's true that all new tokens, including Bitcoin, were initially created by a single entity or group. For Bitcoin, it was Satoshi Nakamoto, who mined the first block (the genesis block) and introduced the token into circulation. Similarly, the founders of Cardano, Polkadot, and other leading blockchains, initially deployed their respective tokens.

However, what sets XRP apart is that all 99,999,999,999 tokens were created at the time of the XRP Ledger's genesis and not by a single entity. The XRPL was launched by an open-source community in 2011, and the genesis code was written in C++. Later, it was rewritten in Java in 2017. Notably, the community members who launched the ledger also included an initial amount of XRP in their wallets.

Moreover, Schwartz's statement that Garlinghouse's role doesn't affect XRPL's decentralization is also pertinent. It's a known fact that institutions and individuals can participate in the Stellar blockchain network through the Lumen (XLM) token, which is used for institutional payments.

However, despite Lumens being used for institutional payments on the Stellar blockchain, it doesn't affect the decentralization of the Stellar network. Similarly, Garlinghouse's role as CEO of Ripple doesn't affect the decentralization status of the XRPL.

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