Former Ripple Chief Technology Officer (CTO) David Schwartz has addressed speculation that the crypto company may block transactions the XRP ledger (XRPL). He explained the only way this could happen, amid claims that the network is centralized.
Ripple CTO Emeritus explains how to block an XRP transaction
In one X messagethe former Ripple CTO said there is no way to prevent valid transactions on the XRP Ledger unless users agree to change the validity rules to make them invalid. Schwartz made this statement in response to whether Ripple or he was one of them the original developerscan freeze a wallet and prevent a transaction.
Meanwhile, in response to who can unlock and lock escrows, the former Ripple CTO said anyone who wants to deposit tokens can put them on escrow. Once an escrow expires, anyone can unlock it. Schwartz also addressed claims that the XRPL Ledger was centralized because Ripple has a “Unique Node List,” which essentially gives the validators permission.
Ripple’s former CTO described claims that the crypto company could have absolute power and control over the chain as “objectively nonsensical.” He noted that this is similar to claiming that someone with the majority of mining power can create a billion BTC. Justin Bons, the founder of Cyber Capital, who made this claim: explained that he meant that Ripple could double down on or censor the network, similar to someone who holds the majority of mining power the Bitcoin network.
Schwartz refuted this claim, stating that the XRP Ledger and Bitcoin do not work the same. He noted that on the XRPL you can count the number of validators corresponding to your node. The former Ripple CTO added that a node will not agree to double-spending or censorship unless there is a specific reason why the validator wants to do so.
XRPL ‘Carefully’ Designed to be Decentralized
Ripple’s former CTO reiterated that they carefully and deliberately designed the XRP Ledger in such a way that they could not control it. He explained that they did, given the regulatory environment and the practical realities of being a business and having investors. As such, there was no guarantee that they would always have control over their own actions.
Schwartz gave an example of how Ripple must comply with US court orders because it cannot deny such requests. As such, they decided from the start that they did not want to control the XRP Ledger and that it would be to their advantage not to have control. He also said that there would be no point if Ripple once censored transactions or double-spent, even if they had the power to do so, because if they ever did, trust in the XRPL would be destroyed.
Featured image from GitHub, chart from TradingView
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