Justin Bons calls XRP centralized, Ripple CTO fires back
has accused XRP of being centralized and permissioned, with criticism focusing on its reliance on Unique Node Lists . Bons said this design is basically based on proof of authority , which he thinks is a bad idea compared to the trustless frameworks of proof of work and proof of stake .At the heart of Bons’ argument lies the assertion that the Ripple Foundation wields disproportionate control over the network.
Even the requirement for a 90% overlap in UNL configurations to avoid forking, according to Bons, signifies an exclusionary and permissioned model. The absence of crypto-economic incentives for validators further compounds what he sees as a flawed system, lacking both decentralization and alignment with cryptocurrency principles., offering a perspective that reframed the narrative.
Not only are validators uncompensated, but they also cannot act unilaterally to censor transactions unless enabled by other participants, a rare scenario given the system’s distributed nature. Unlike PoW systems, which Schwartz described as prioritizing monetary dominance, Other node operators can choose to ignore that node. Consensus automatically ignores nodes that don't appear to be following the rules at the node level. Validation can ignore missing nodes at the network level.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.1000 FOUNDERS at DEVCON?! SUPERMOON & PEANUT TRADE Brought Together 1,000+ Founders, Builders, & Investors at DevCon 2024
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