Many members of the blockchain community had second thoughts and questioned the sufficient decentralization of the Ripple protocol.
These doubts were hastened by technical director Ripple David Schwartz. In his opinion, the distributed XRP registry is more decentralized than Bitcoin and Ethereum.
“Bitcoin and Ethereum are taken as a standard of decentralization, meaning that no person or small group of people can dictate their terms or rewrite the transaction history. If such blockchains are de-centralized, then Ripple is decentralized, maybe even more than Bitcoin and Ethereum, “said David Schwartz.
He also stresses that 80% of the mining capacity of bitcoin is concentrated in China. At the same time, 58% of the capacity is in the hands of four groups of miners. Also, three groups of Ethereum miners hold control over 57% of the capacity. At the same time, a group of miners, controlling 51% of the capacity, can conduct an attack on the blockchain.
David Schwartz cites Ripple as an example, in which, to record the change in the block, it is necessary that for some time 80% of the validators confirm this change.
“While Bitcoin and Ethereum are becoming increasingly centralized, the XRP registry is becoming more and more distributed,” said Ripple’s technical director.
Some members of the blockchain community criticized the statements of David Schwartz.
*Trigger warning* Why have the Ripplers become so obsessed with decentralization even though it’s a premined centralized altcoin which was so centralized that a part of the history is lost forever? A thread.
— WhalePanda (@WhalePanda) August 23, 2018
“Why are Ripple users so obsessed with decentralization, because this is a pre-mine centralized altcoin? So centralized that part of its history has been lost forever, “the Twitter user under the WhalePanda nickname noted.