Ripple CTO David Schwartz has put an end to speculation surrounding the XRP holdings and decentralization concerns of XRP Ledger. In response to recent news that sparked renewed debates on the subject, Schwartz took to Twitter to address the issue head-on.
The executive emphasized that those who claim XRP or XRPL lack sufficient decentralization due to Ripple's control have failed to present a clear description of how a crypto company could exploit its alleged control to cause harm. He stated unequivocally that such manipulation simply cannot be done. This assertion aims to dispel doubts regarding Ripple's influence over XRP Ledger and its potential impact on the blockchain's integrity and governance.
During the discussion, a community member raised the concern that the return of unspent funds from escrow relied solely on the honor system, thereby leaving room for potential manipulation. Additionally, the member proposed a scenario where a significant portion of funds could be used to manipulate the price of XRP, affecting market trends.
In response, Schwartz highlighted the fact that Ripple indeed holds a substantial amount of XRP. However, he argued that the ownership of a significant stake by a single entity does not inherently compromise the decentralization of XRPL. Schwartz emphasized that Ripple's XRP ownership does not grant the company any control over the ledger or its governance.
Tomiwabold Olajide
Arman Shirinyan
Godfrey Benjamin
