TokenPay (TPAY) has again decided to tease Ripple (XRP) and Neo (NEO), saying that the two cryptocurrencies are centralized. TokenPay, in a retweet, stated that NEO is centralized just like XRP. The retweet said that the NEO foundation controls all the NEO nodes, underlining that it is "Chinese Ethereum".
"$ NEO centralized just like $ XRP The fake" Foundation "(extravagant word for a company masquerading as a charity) controls all the nodes." Chinese Ethereum "."
– TokenPay (@tokenpay) 15 August 2018
Decentralization represented a significant concern for the cryptocurrency community; many analysts are of the opinion that all the technology affiliated to the blockchain must be completely excluded from the management of some selected few, for example the government, and not be involved in everything that has to do with centralization.
Above the aphorism produced a part of the cryptocurrency community states that Ripple and NEO are not true cryptocurrencies.
The basis of their argument was that XRP, like NEO, was not designed to be a currency or a normal cryptocurrency according to the standard definition.
Ripple's XRP, which focuses on creating blockchain in the healthiest way possible, is primarily for the sake of the institutions with which Ripple collaborates with American Express or Santander Bank, therefore, Ripple has created XRP and optimized every traditional component of cryptocurrency in an almost unrecognizable state. These are the few of Joe Liebkind.
In the same row, since XRP can not be extracted, transactions are centralized. Another point of view that makes some parts of blockchain fans condemn XRP is that its blockchain is not open like that of other cryptocurrencies.
However, to keep the critics at bay, Ripple, who oversees XRP, continues to make the blockchain as decentralized as possible. At present, the total number of validators on the XRP register was 68. Ripple's decision to increase the number of validators on the ledger may be due to the fact that critics always point out that XRP is centralized.
Ripple currently makes up 21% of the 68 validators on the XRP register. This is a sign that the ledger is moving towards complete decentralization.
Following the Security Definition of the Security and Exchange Commission, it becomes easy to say that XRP is not worthy of being regarded as one since cryptocurrency is approaching becoming a fully decentralized digital currency every day.