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- Once the XRP Ledger Foundation is established, Ripple will continue to invest in the future of the XRP Ledger, according to Bharath Chari.
- The new foundation will not acquire the non-circulating XRP supply from Ripple.
Bharath Chari, the spokesperson for the fledgling XRP Ledger Foundation (XRPLF), which was established on Sept. 24, denied the rumor in an interview with Forbes that Ripple will not invest in the development of the XRP Ledger in the future. The voice emerged within the XRP community soon after the founding, as the newly formed foundation is expected to drive the growth, innovation and development of XRP Ledger and the community.
These core tasks have created confusion within the community because they overlap to some extent with Ripple’s. However, Chari rejected speculation that the XRP Ledger Foundation would lead the future development of XRPL while Ripple would not invest as heavily in the future of XRPL. According to the spokesperson for XRPLF, Ripple will continue to play a key role in the development:
We don’t consider this the case at all, although this question is better answered by Ripple. As is the case with many open source projects, stakeholder companies invest time and resources to help them develop it. The XRPLF sees Ripple in an ongoing role as a key developer on both the technical and commercial aspects of the XRPL. Furthermore, the XRPLF is only an entity that promises to act in the best interest of the XRPL. It is not about controlling an open and decentralized ecosystem like XRPL.
Regarding the uncirculated supply of XRP under Ripple’s control, the Forbes correspondent asked whether Ripple will transfer a large portion of the non-circulating supply to the XRPLF to make XRP Ledger more decentralized. Chari replied:
The non-circulating supply does not worry the XRPLF. We focus solely on the health and forward direction of the XRPL. As replied earlier, and also indicated in some other Ripple statements, they are committed to the greater good of XRPL, including dedicating resources to develop it.
Chari also added that the XRPLF has no agreement with Ripple to allocate a share of the non-circulating XRP delivery and explained that the foundation is only focusing on the original roadmap. There is also no agreement with Ripple to take over the XRP Ledger software repository. However, as the XRP Ledger Foundation builds, it “will work [their]through access to the union and then finally to the repository and the packaging “, as said Chari.
Furthermore, the XRPLF will take another step in decentralization by overtaking Unique Node List (UNL) from Ripple. While the San Francisco-based company has tried to decentralize XRP Ledger by including “non-Ripple validators” in the recommended UNL, critics have repeatedly claimed that as long as the list is still published by Ripple, they will ultimately still have full control of the network.
In this regard, Chari has promised that the new Unique Node List will have transparent selection criteria and performance. He also rejected the risks associated with the change, such as the network fork:
As one of our core values is to act in the best interest of XRPL, we would of course work closely with other directory publishers to ensure that no fork risk occurs. Being open, each node on XRPL is free to choose the validators it trusts, even manually.
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