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XRP Ledger Is Now Officially Indisputably 100% Decentralized, Says Redditor, Offering Proof

  • Yuri Molchan
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    An XRP community member on Reddit has published a screenshot that confirms the XRP chain is fully decentralized now, the post gets removed but the discussion remains

XRP Ledger Is Now Officially Indisputably 100% Decentralized, Says Redditor, Offering Proof
Cover image via www.123rf.com
Contents

Some new information regarding the XRP Ledger has emerged recently, both on Reddit and Twitter, obviously from the XRP community. The person on Twitter has published a screenshot that says that the XRP Ledger is now 100 percent decentralized, since it has got 80 percent of non-Ripple validators.

The screenshot in the Reddit post has been removed, however, the title bears the same assumption and has a heated discussion under it where the XRP army goes wild from joy.

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Is XRPL 'truly decentralized' now?

The XRP has been often accused of being centralized, mainly due to the fact that nearly half of the total XRP supply (the coin is not mineable) was locked on Ripple’s escrow. Ripple regularly unlocks one billion of XRP tokens and uses them for the needs of the company and for adding liquiity to XRP.

Another point is that some believe Ripple can at any moment freeze users’ XRP in their wallets, should the team suspect wallet users of any illegal actions, such as money-laundering, terrorist financing, etc.

Many in the XRP community also criticize Ripple for those regular ‘XRP dumps’ since they believe those are the making the XRP price stay low and prevent any chance for its growth.

 

Source of the ‘breaking news’

The screenshot is taken from the minivalist.cinn.app website. After it had been published in the social media, the XRP community has taken this news with a high degree of enthusiasm. However, so far, nobody from the XRPL team or Ripple has officially confirmed this information.

XRP
Image by minivalist.cinn.app

Do you believe that XRPL is completely decentralized? Feel free to share with us in the comments section!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
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    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
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According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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