So after all Ripple is a centralized or decentralized system? Chief cryptographer of the company

So after all Ripple is a centralized or decentralized system? Chief cryptographer of the company

The company Ripple has released a series of videos, which tell about the history of this company and the eponymous cryptocurrency, its advantages and difference from other cryptocurrencies.

Critics of the project often claim that Ripple is actually a centralized system. Therefore, in its 7th video, the company decided to clarify the situation on this issue.

The main and only protagonist of this video was David Schwartz, who is the chief cryptographer at Ripple. Defending the view that the project is decentralized, it is mentioned that:

The system has stakeholders, and if Ripple will disappear (as a company), nothing will prevent them to continue to continue to support the operability of the system.

See also Forecast the price of Ripple to 2018 (updated version)

Then he touched another favorite argument of critics of the Ripple, which stated that the company may at any time create any number of new coins:

Many are concerned that the Ripple can create more XRP, but the Protocol of this project does not include such a scenario in principle. The situation when you see someone and say: “Look, I have a whole bunch of XRP, just don’t ask where they came from,” impossible. Transaction policies are determined, and a software product – it’s open source and there simply is no such possibility.

David also touched on the issue of reserved XRP:

In Ripple there are currently about sixty billion XRP that is sixty percent of all the XRP that will exist. Fifty-five billion XRP were blocked in conditional deposition which will arrive into circulation a billion in a month. It provides the necessary level of supply and predictability, which in turn ensures that any XRP, which is not used is sent back to the Deposit. As we use the registry public, we also provide an additional level of transparency.

Schwartz also mentioned about their plans for this year:

One of my main priorities for 2018 is to improve the decentralization XRP. For 2018, we will add additional validators, and you will see that the network will become more and more independent.

Recall that the Ripple now ranks third in capitalization among all cryptocurrencies. And the current price of this cryptocurrency is at the level of 0.79 US dollars. The price dropped after it became known that Coinbase has no plans to add this currency on your projects.

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