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Ripple’s Chief Expertise Officer, David Schwartz, just lately posted on X to make clear the allegations made by a person of the social media platform. The person made accusations that XRP’s blockchain protocol has a centralized design. This disproportionately empowers and enriches the highest 1%.
Clarification of the Claims
David Schwartz took his time to reply each questionable declare and rapidly replied to X. The CTO of Ripple, Schwartz, rejected all of the accusations of XRP’s centralized enrichment.
To a person’s query – “Are you able to conclude the patent that XRP is created with a centralized design that may solely profit the highest 1%?” He replied –
“I’m unsure what a hack of XRP would even imply. The ledger contents are public. The foundations are public. Does it imply some change to the ledger contents that doesn’t observe the foundations? A bug in XRPL may enable somebody to do this and it might be an enormous mess to roll again the ledger (as Bitcoin needed to do in 2013). No such bug is thought, in fact. And any exploited bug can be mounted and so that you couldn’t hack it the identical method twice.”
Claims of Hacking XRP
In response to a priority relating to the chance of the Division of Homeland Safety (DHS) hacking XRP, Schwartz contemplated the transparency and publicly accessible nature of the ledger contents and the laws regulating XRP.
“I’m unsure what a hack of XRP would even imply…” he stated. Is it a modification to the ledger contents that deviates from the foundations?”
He went on to say that any potential defect allowing unauthorized alterations should not solely be a significant concern however would even be rectified rapidly to keep away from future exploitation.
David Schwartz additionally strategically denied the claims. He stated he doesn’t precisely perceive this declare and questions who the highest 1% is and of what. He justifies XRP’s non-centralized protocol because it allows anyone who needs to make the most of the ledger to observe asset possession and commerce.
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