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Opinion: For a long time, opponents of the XRP register have said that the blockchain is centralized around Ripple, a company focused on cross-border payment settlement. Recently, however, the currency has reached another level of decentralization, with only 27% of the validation nodes controlled by Ripple on the list of the predefined unique nodes [UNL].
This results in a greater degree of reliable use of third parties of the XRP register, thus spreading control from Ripple, which controlled most of the validation nodes on the network. Another reason that many give to say that the network is centralized is that Ripple controls most of the supply of XRP, about 53 billion of it. However, this is stuck in a collateral smart contract, which means that Ripple can not withdraw it as and when they want. The contracts expire every month, on which Ripple can use the billion previously blocked XRP.
Even if there was a situation where Ripple wanted to remove the XRP from the engagement, the transaction that extracted the coins should have been validated and approved by 78% of the remaining nodes. Now, with the decreasing number of Ripple validation nodes on XRP UNL, it would simply be impossible for Ripple to forcibly remove XRP from the engagement, thus removing control of the "centralized" supply of the coin.
That said, some of the new validators running on UNL include Alloy.ee, an application hosting service that specializes in hosting productivity applications, Bitso, a digital asset exchange and an xRapid partner, a global service provider. information and communication technology called NTT Communications and Coil, a company based on the use of the InterLedger and XRP protocol to provide micropayments to content creators on the Internet.
Other validators are managed by BREX, a company that provides real-time access to structured and official business data, Bahnhof, a Swedish Internet service provider [ISP]and Business Register Exchange, a company that provides a powerful API to provide its customers with instant access to global business records. Companies such as Worldlink, a global technology company providing talent, consulting and management solutions, and AT TOKYO, a leading data center company, also have a validated UNL validator.
Other validators can be identified as those managed by members of the XRP community, as seen by Bithomp, a website that manages a blockchain explorer for XRP Ledger, Rabbit Kick Club, a website dedicated to the execution of a node and a validator each for XRP Community- projects based on XRPChat and XRP Tip Bot.
There are also validators managed by various universities all over the world and are part of the Ripple & # 39; s University Blockchain Research Initiative [UBRI]. These include the University of Nicosia in Cyprus, the Blockchain Security Research Center of the University of Korea and the University of Kansas Information Technology and Telecommunications Center.
All in all, this represents an important step forward for Ripple and XRP Ledger, with regulators seeing the division between the two. It also makes XRP safer, since the nodes are now geographically and legally separated.
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