The creator of Cyber Capital, Justin Bons, has criticised the decentralised structure of XRP Ledger, while David Schwartz, CTO of Ripple, has once more defended it. According to U.Today, Bons had asserted that the permissioned blockchain design of XRP, Binance Coin (BNB), and Stellar Lumens (XLM) makes them all centralised.
In response, Schwartz said that XRPL accomplishes decentralisation to the same extent as proof-of-work (PoW) blockchains, but in a different way. He clarified that only temporarily censoring transactions is permitted and that XRPL has any unique power to alter the regulations. Additionally, Schwartz believes that XRP Ledger is more decentralised than a PoW system, where a single person can decide which transactions are included in a block, because XRP Ledger uses consensus to determine which transactions should be included in a block.
Schwartz further emphasised that because there is no need to pay for the energy used by miners, XRPL is less expensive to run than proof-of-work (PoW) or proof-of-stake (PoS) systems. In order to improve decentralisation, he further emphasised that no one entity on the XRP Ledger has any unique rights to collect rewards or control transaction flow.
This is not the first time that XRPL’s decentralisation has drawn criticism. The way the XRP Ledger achieves decentralisation and how it differs from other blockchain systems, however, is well explained in Schwartz’s response.
