The XRP register gradually becomes decentralized, ripple validators make up only 48% on UNL
For a long time, many crypto investors have been bashing the XRP Ledger, as they perceived the relationship between XRP Ledger and Ripple Labs as a challenge to the purposes of cryptocurrencies and blockchain technology. Another reason why investors felt that XRP Ledger was following a centralized system is due to Ripple's recommendation of its Unique Node Lists (UNL).
A domestic feature to the XRP register, the UNL, according to Ripple themselves, is a "list of transaction validators that a given participant does not believe will conspire to defraud". To put it in a simpler context, it is a function in which the validators are consulted for each transaction carried out. Each participant has the possibility to choose an UNL supplied by Ripple or to create one of its own. In addition, each participant also has the possibility to change the UNL, however they wish it.
What efforts have been made to decentralize the XRP register ? According to an AMB Crypto report, a 2: 1 ratio will be implemented, ie, for every two new third-party validators that use the UNL function, Ripple will remove one of its validators.
According to the statistics that provides a breakdown of the number of validators and the dominance of Ripple, it seems that there are 21 validators, of which 10 are controlled by Ripple – which represent a control of 48% on the validation nodes.
A list of third-party validators has also been revealed, which includes a mix of global exchanges of cryptocurrencies, payment providers and micro-payment, XRP service providers and Internet and technology companies. The following are the supposed validators for the moment: Bitso, Brex.io, Coil.com, Rabbit Kick Club, XRP Tip Bot, Telindus Cloud, ATTokyo, Flagship, Bahnhof and WorldLink US.
As previously reported by the Bitcoin Exchange Guide, Ripple continually strives to ensure that Ledger XRP embarks on a journey to a decentralized system. At the time, the team involved cited:
"Decentralization if XRP Ledger is a process that has begun since its inception and has been ongoing since then, we have not intentionally rushed the process and we have continued to make steady progress. . "
Do you think that the pace at which Ripple is currently working to decentralize the Led XRP register is adequate or requires more work? Share your thoughts below.