Ripple CTO Doubles Down On “XRP Ledger Is Decentralized” Argument

As reported by Ethereum World News in August, David Schwartz, the chief technology officer at Ripple Labs, a San Francisco-headquartered fintech startup with a focus on decentralized ledgers and digital assets, took to his firm’s blog to touch on a pertinent subject matter. In a post, he claimed that the XRP Ledger, an ecosystem that Ripple builds on top of, is decentralized through and through, contradicting sentiment from its skeptics.The programmer then chalked this up to the dichotomy between traditional Proof of Work (PoW) schemes, enlisted by blockchains such as Ethereum, and Ripple’s use of an alternative medium of consensus, which uses a system of validators and tracking servers. He explained that PoW hasn’t delivered on its promise of decentralization. Schwartz even went on to bash Bitcoin’s transaction latency, noting that the world’s first notable cryptocurrency has ten-minute blocks, increasing true finality times to upwards of an hour in some cases. Over the past days, SBI Holdings’ VCTrade exchange began to launch withdrawals for the popular asset, BTC, and ETH. CoinGate, a leading crypto-friendly payment provider, began to enableXRP payments for merchants it is partnered with. And SBI Holdings joined a partnership with R3, which both support Ripple’s efforts.

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