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C.E.O of Ripple, Brad Garlinghouse, had an "Ask Me Anything" style interview, done by Ripple's Monica Long. On this platform, he recalled that with many measures, XRP is more decentralized than Bitcoin and Ethereum. His comments have also attracted various criticisms.
Since XRP, the digital asset with the largest request for the launch of Fintech in Ripple has risen to the top of the cryptocurrency ranking. One criticism was that the Led XRP register is centralized. It also makes use of an alternative server monitoring system. The system does not remember the Bitcoin Proof of Work (PoW) or Proof of Stake (PoS) system proposed by the mass of developers of Ethereum.
The XRP ledger has been decentralized
The managing director of the San Francisco startup, Brad Garlinghouse, had an "Ask Me Anything" style interview. The interview was conducted by Ripple.
In the course of the interview, he explained why his company's assets are decentralized rather than centralized. The CEO of the financial technology company states that the XRP ledger has been decentralized.
The XRP register has been decentralized for a long time now, this topic has often been raised, he added. The stakeholder in the encrypted sector, who is also a technology entrepreneur, spoke about people's reactions to the market. He noted that people are spreading their FUD (fear, uncertainty, doubt).
There is also a lot of misinformation about the status of XRP and the underlying nature, he added. According to Garlinghouse, due to the presence of incorrect information, the unaware ones will go in the wrong direction. It is important to underline that Garlinghouse underlines the fact that the XRP register is decentralized.
Seven Validators
Garlinghouse has supported his claim with facts, due to the crypto community. He explained that today, Ripple manages seven validators, this is about four percent of all public validators.
For the CEO of San Francisco, almost all measures now, XRP Ledger is more decentralized than the Bitcoin register or the Ethereum register. In other registers, you have a very small number of miners who control about 50% of the mining power.
When he was about to close the interview, Ripple's head gave more information. He stressed that he tries not to pay attention to the FUD (fear, uncertainty and doubt) of the people.
However, he would rather keep it down and move on. It will maintain transparency, instead of emphasizing what the community thinks. His opinion received some criticism.
On twitter, a Canadian entrepreneur, Calvin Ayre, has criticized him sarcastically for not knowing how public blockchains actually work. His tweet said: "hahahah … Ripple's CEO admits he does not understand how public blockchains like Bitcoin SV actually work"
hahahah … Ripple CEO admits he does not understand how public blockchain actually works like Bitcoin SV 🙂 https://t.co/qQMzwkQoZh
– Calvin Ayre (@CalvinAyre) 24 December 2018
The Bitcoin Lightning network exceeds the network capacity of 500 BTC
The developer of OpenNode, Rui Gomes, recently went on Twitter to convey his vision on the Lightning network.
According to Gomes, the off-chain system facilitates instant, low-cost, and scalable bitcoin transactions. It is also experiencing enormous growth.
The developer, Gomes, has an invention called Lightning App (LApp). He revealed that the network will facilitate 500 BTC in a few days. The statistic is validated by 1ML, a Lightning Network analysis provider. Based on the 1ML statistics, the node channels directed by the Bitcoin Blockstream development consortium can now accept 496.49.
another fun … Original Bitcoin (now called #Bitcoin SV) already massively scales and has smart chits and contracts and makes this announcement as someone who claims to be close to putting a rocket into space when SV is already landing on the moon: https: //t.co/jIVGW1EPiS
– Calvin Ayre (@CalvinAyre) 24 December 2018
This sum amounts to $ 1.93 million at current prices. The figure also includes an increase in the coming months. In the recent past, the capacity of the network has increased by 13%, regardless of whether the encryption market remains in a chaotic state. Calvin Ayre has openly criticized the project.
Quoting his tweet: another fun. The original Bitcoin (now called #Bitcoin SV) is already massive and has smart tokens and contracts and makes this announcement as someone who claims to be close to putting a rocket into space when SV is already landing on the moon. In this way, minimizing the result.
What is your opinion on Garlinghouse's comments? You can share your opinion on this topic and much more on our own chirping and the pages of Telegram.
Summary
Item name
Calvin Ayre sarcastically criticized on the networks of Bitcoin Lightning Networks
Description
On Twitter, a Canadian entrepreneur, Calvin Ayre, sarcastically criticized Brad Garlinghouse for not knowing how public blockchains actually work.
Author
Ifeanyi
Publisher name
Coinpedia
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