Ripple Labs, one of the most popular companies in the blockchain and crypto-space, seems to generate more controversy among the cryptic community. David SchwartzRipple's Chief Technology Officer said that the company works in such a way as to protect the network from a 51% attack.
The comments come at a time when the Ethereum Classic (ETC) network suffered a 51% strong attack that resulted in the loss of hundreds of thousands of dollars, according to some relationships.
Ripple It is usually criticized for being centralized and working with the banking sector, which is precisely the one against which the crypted space wants to fight. However, Ripple usually responds by saying that Bitcoin is centralized due to the fact that mining activities are mainly found in China.
On Monday, Coinbase, one of the largest companies in the cryptographic space, issued a warning about a 51% attack that was going on in the Ethereum Classic. In a blog post issued by Mark Nesbit, a security engineer at Coinbase, the ETC network suffered block reunions due to a malicious attacker who had over 51% of the network hash rate.
Charlie Lee, the creator of Litecoin (LTC) wrote on Twitter that coins that are not dominant in their consensus mechanisms are susceptible to attack. According to him, it would cost only $ 5000 to attack the ETC network for only one hour.
Shwartz he wrote on Twitter citing the Coinbase article that another PoC blockchain has undergone a new double-spending attack. He added that XRP Ledger and its distributed agreement protocol eliminate this risk.
Another blockchain PoW suffers a double-spend attack, this time ETC. The distributed agreement protocol of XRP Ledger eliminates this risk.https: //t.co/RQBEWAXmRD
– David Schwartz (@JoelKatz) January 7, 2019
Several XRP supporters have begun to talk about it and support the comments made by Mr. Schwartz. However, other people have commented negatively on what Schwartz wrote.
For example, Crypto Bobby replied that although it is true that Ethereum Classic was vulnerable to a 51% attack, Ripple and his ledger could be heavily influenced by regulations or governments around the world.
This is similar to what Gab.com, the famous social network wrote. Gab said that if Ripple Labs is able to freeze user funds, then XRP is not so decentralized.
Tip: If Ripple Labs can block your funds at any time for any reason, you may have a scamcoin in your hand that is not decentralized.
It could also open a regular bank account lol.
– Gab.com (@getongab) January 7, 2019
Ripple's CEO, Brad Garlinghouse, commented that people are spreading their FUDs against XRP and Ripple Labs. He added that there is a lot of misinformation about the status of XRP and its underlying nature.
At the moment there is no more information on ETC and what happened to the network.