There are some people that yet do not know how XRP’s ledger and the system works. This is why David Schwartz, the Chief Technology Officer (CTO) at Ripple wrote on Twitter a clear explanation about how the XRP Ledger works for both institutions and individuals.

According to the Twitter user Mr. XRP, there are people that think there is a ledger for retail and a ledger for institutions. David Schwartz answered immediately saying that it is hard to imagine how this would look like.

It's hard to imagine what such a merger would look like. It would have to follow the rules of the public ledger. It's kind of funny, I was actually thinking just today about how cool it would be if you could run the XRPL software in a private ledger mode and later bridge …

— David Schwartz (@JoelKatz) January 10, 2019

Schwartz went on explaining that the idea of having two different ledgers that are bridged through an asset issued on both networks sounds good but it has not been constructed yet.

The CTO at Ripple said that the authoritative record of who has what XRP is the XRP Ledger. Additionally, he mentioned that it might be possible to use XRP on private ledgers but it would need operators of this private ledger to get XRP before and create a bridge between the networks.

That gives you two interesting use cases: 1) No XRP for cases where the cost of XRP is a factor. You only need/use XRP when you need to interact with the public ledger. 2) XRP fully linked, for cases where you want liquidity and connectivity and don't mind the very small costs.

— David Schwartz (@JoelKatz) January 10, 2019

XRP has always been criticized for being a centralized currency operating in a network that is centralized. Nevertheless, there are several validators confirming the transactions and Ripple does not own a majority of these validators.

Indeed, Ripple and XRP supporters usually claim that Bitcoin (BTC) and Ethereum (ETH) are considered centralized because of their mining centralization in China. It might be possible for the Chinese government to play an important role in attacking the Bitcoin and Ethereum network.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

202 +