Ripple - the most decentralized blockchain?

[BenchCoinToken]

I had another post about Ripple ICO's which has led me to a new question on the validity of Ripple claiming it will be more decentralized than Bitcoin.

"RCL will not just meet, but exceed the decentralization level of other public blockchains" - https://www.cryptocoinsnews.com/ripple-unveils-strategy-become-decentralized-bitcoin/

You'd think because of the financial institutions (and their gov't regulations) that it would be hard to say it's decentralized (especially with how many banks on board recently) but it really has to do with the Ripple Consensus Ledger (RCL)/diversification of validator nodes.

In their plan "we will remove one validating node operated by Ripple, until no entity operates a majority of trusted nodes on the RCL" seems pretty straight forward however I have a hard time understanding (or believing) the U.S. would let a U.S. bank do anything where they do not have regulatory control.

Will Ripple really become more decentralized than the other major blockchains?

[illinest]

In their plan "we will remove one validating node operated by Ripple, until no entity operates a majority of trusted nodes on the RCL" seems pretty straight forward however I have a hard time understanding (or believing) the U.S. would let a U.S. bank do anything where they do not have regulatory control.

Will Ripple really become more decentralized than the other major blockchains?

Carefully ceding their corporate control over the "trusted" ledger to other "trusted nodes" (operated by who? banks? governments?) is not decentralized at all. This, on its face, shows what a joke Ripple is from the perspective of cryptocurrencies. Everything is about trusted nodes (which are somehow "distributed") and trusted gateways with KYC. It's great from a marketing perspective, to soak up interest in crypto, but decentralized?

[BenchCoinToken]

Carefully ceding their corporate control over the "trusted" ledger to other "trusted nodes" (operated by who? banks? governments?) is not decentralized at all. This, on its face, shows what a joke Ripple is from the perspective of cryptocurrencies. Everything is about trusted nodes (which are somehow "distributed") and trusted gateways with KYC. It's great from a marketing perspective, to soak up interest in crypto, but decentralized?

Good point about KYC as well.  I forgot to mention it but KYC is another part of it that screams central regulatory body (me personally I feel KYC=US Govt.)  From the article - "Thomas claimed that Ripple validators are less likely to be malicious or attacked successfully since they are chosen on ‘merit’."

The "chosen on merit" part doesn't seem in line with a decentralized platform but does that mean currently they are centralized but once they get past adding "chosen" validators and removing their own they will be decentralized?

[Spoetnik]

.. Wasn't even launched open source.

Ripple is a company.

Need more info?

[yonghongtang]

I had another post about Ripple ICO's which has led me to a new question on the validity of Ripple claiming it will be more decentralized than Bitcoin.

"RCL will not just meet, but exceed the decentralization level of other public blockchains" - https://www.cryptocoinsnews.com/ripple-unveils-strategy-become-decentralized-bitcoin/

You'd think because of the financial institutions (and their gov't regulations) that it would be hard to say it's decentralized (especially with how many banks on board recently) but it really has to do with the Ripple Consensus Ledger (RCL)/diversification of validator nodes.

In their plan "we will remove one validating node operated by Ripple, until no entity operates a majority of trusted nodes on the RCL" seems pretty straight forward however I have a hard time understanding (or believing) the U.S. would let a U.S. bank do anything where they do not have regulatory control.

Will Ripple really become more decentralized than the other major blockchains?

I was told Ripple is centralized ,  have I been wrong?

[n4poleon]

This the most miss leading information I've seen so far in the blockchain space. Exchanges needs to delist this crap in the name of cryptocurrency. And let banks take it, and let people who wants to buy it, buys over a bank counter.

[Chokolo]

This the most miss leading information I've seen so far in the blockchain space. Exchanges needs to delist this crap in the name of cryptocurrency. And let banks take it, and let people who wants to buy it, buys over a bank counter.

More like this thread is full of misinformation and certain people should be banned in the name of cryptocurrency.

You people dont know what you are talking about.

The irony in your recent 2 posts says it all

XRP = not crypto, not open source, not a blockchain project, centralise, more than 50% of XRP owns by the company.

STRAT = A blockchain project created on C#, a platform you practically build something on it. An actual cryptocurrency when comparing to XRP.

Same thing you learn anything yourself. You already have internet, use it.

Try to follow your own advice and google Ripple and Open source.
Try to google Ripple and blockchain.
 


You are are so full of fud and hate about something you dont even have the slightest clue of, so you fall in your own traps. Try to be more open minded and educate yourself instead of spreading misinformation.

FYI: Ripple Labs own 6.6 billion XRPs out of 100 billion. The rest is locked down in third party escrows or open for purchase on the open market. Ripple owns 6.6% of the XRPs, not over 50%.

[Chokolo]

In their plan "we will remove one validating node operated by Ripple, until no entity operates a majority of trusted nodes on the RCL" seems pretty straight forward however I have a hard time understanding (or believing) the U.S. would let a U.S. bank do anything where they do not have regulatory control.

Will Ripple really become more decentralized than the other major blockchains?

Carefully ceding their corporate control over the "trusted" ledger to other "trusted nodes" (operated by who? banks? governments?) is not decentralized at all. This, on its face, shows what a joke Ripple is from the perspective of cryptocurrencies. Everything is about trusted nodes (which are somehow "distributed") and trusted gateways with KYC. It's great from a marketing perspective, to soak up interest in crypto, but decentralized?

Try reading the article again. And a third time if you still dont understand it.

No company will have a majority of control over Ripple. Thats the whole point. No entity, banks or government or a company, can ever sieze control of the network. That is a possibility with Bitcoin.

Ripple is far more decentralized than Bitcoin yet you somehow twist facts in your head to make it seem like Ripple is the centralized one?

[coinfinder000]

I don't care it's more decentralized than BTC or not, as a investor, what I care is profit. I found Ripple will give me this. As we can see, XRP is cooperating with more and more banks, this will take me profit. Hold you XRPs,trust me.

[Spoetnik]

I don't care it's more decentralized than BTC or not, as a investor, what I care is profit. I found Ripple will give me this. As we can see, XRP is cooperating with more and more banks, this will take me profit. Hold you XRPs,trust me.

You are not an investor.
These are suppose to be non profit decentralized open source crypto currencies.
You are not suppose to be supporting companies coming to crypto to start a "for profit" coin BUSINESS.

Ripple inc has a unique distinction.
They are the first and so far only crypto coin / company that was FINED BY FiNCEN.

Comprende fucktards ?

[sebastianpenguen]

Saying ripple is decentralized is a disaster. It's 100% centralized company. Theymos wrote about this on one his threads where he evaluate the altcoins. You can read. They have the supply power and you can't even know if the supply will be stay the same.

[Hodor7777]

.. Wasn't even launched open source.

Ripple is a company.

Need more info?

The open-source code for Ripple is here:  https://github.com/ripple/rippled

Yes Ripple is a company.  Yes, we'll probably need more info than that. 

[Hodor7777]

Saying ripple is decentralized is a disaster. It's 100% centralized company. Theymos wrote about this on one his threads where he evaluate the altcoins. You can read. They have the supply power and you can't even know if the supply will be stay the same.

Don't let another poster tell you to not think for yourself and trust some other person.  Here is the chief cryptographer from Ripple responding to similar FUD:
https://pastebin.com/pZFB2Lhg

[tyuner4]

How can Ripple be decentralized? It is a well known fact that it is fully controlled by Ripple Company.