Ripple Centralization FUD is high, but XRP is proving to work decentralized

The two most valuable and appreciated virtual currencies on the market are XRP and Bitcoin (BTC). These two virtual currencies have always offered services to individuals and financial institutions worldwide.

Bitcoin has always been considered by its decentralized nature. Only some people have criticized the fact that mining activities were centralized. But the whole community considers decentralized Bitcoin. XRP was different. He has always been criticized for being coined by Ripple Labs and centralization.

However, this could change in the near future. Bitcoin has been affected by the hash war on Bitcoin Cash (BCH) and its network update. Its price has plummeted and hit the entire virtual currency market. A group of miners and mining pools was able to influence the Bitcoin network in a very simple way.

The XRP has also been criticized by the cryptocurrency community because it works with financial institutions and banks. This is something that goes against what thinks bitcoin supporters and crypts enthusiasts. Indeed, cryptocurrencies have arisen as a way for individuals to avoid banks and to change the financial system.

Ripple's CTO, David Schwartz, also spoke about Ripple and Bitcoin and their level of decentralization. He said that 70% of all Bitcoin mining takes place in China. The Chinese government has also decided to ban virtual currencies from its territory and has repeatedly shown hostility towards Bitcoin.

Even if every single node in the network is independent, it would be possible for China to take the whole Bitcoin system down if it decided to do so.

Compared to other virtual currencies, we can say that XRP and Ripple are decentralized. During the last couple of days, with all this problem related to Bitcoin Cash, XRP has remained one of the most performing virtual currencies. In fact, XRP was able to achieve the largest weekly earnings a few days ago compared to the first 50 virtual currencies on the market.

Ripple allows banks to settle international payments, cross-border transactions and offer customers better services and products.

Currently, XRP it is trading around $ 0.47 and has a market capitalization of $ 19.07 billion. In the last 24 hours, XRP has lost 7.23% of its price. Nevertheless, all 50 major virtual currencies are negatively traded.