The very positive wave of feeling around Ripple’s token XRP started with David Schwartz – Chief Technology Officer at Ripple continuing to post and respond on twitter and Ripple‘s website about the project and the decentralization of the ledger.
David Schwartz added:
Bitcoin and Ethereum are currently viewed as the gold standard for decentralization…
Since these blockchains are considered decentralized, then by design, the XRP Ledger is also — if not more so — decentralized than both Bitcoin and Ethereum.
He would go on to describe that Bitcoin’s and Ethereum’s Proof-of-Work, is a great starting point for a decentralized system by giving miners incentives to validate transactions. However, according to him few miners later one can control over the system significantly on the PoW protocol.
The XRP Ledger uses a consensus protocol that relies on a majority of validators to record and verify transactions without incentivizing any one party (this is one of the main reasons why I began working on XRP Ledger more than six years ago). Validators are different from miners because they aren’t paid when they order and validate transactions.
In the recent times, Weiss Ratings has gotten immensely amiable towards XRP which have been propelled forward with the Tweet:
Juan Villaverde to XRP community: “Thanks, guys! You’ve convinced me. I now use XRP myself to move money between exchanges. No wait for confirmations. Really fast.” #XRParmy #XRPthestandard #XRP #crypto #cryptocurrency
— Weiss Ratings (@WeissRatings) August 9, 2018
Accordingly, right the next day the tweet on how XRP would be best for a base currency on exchanges and that Binance should add it.
We think that the #XRP is the fastest digital asset to transfer funds between exchanges. It only makes sense for #Binance to use it as the base #currency – why should one have to go through an intermediary currency to trade? #crypto #btc #altcoins
— Weiss Ratings (@WeissRatings) August 10, 2018
With the team working hard on hoisting the decentralization of the coin while highlighting out that XRP is not a security will guarantee a better ground for coin exchanges to list it which directly will bring more buyers in the game.
The Ripple company plans on integrating all of Ripple’s software products of #xVia, #xCurrent and #xRapid into one convenient solution known as Convergence. It looks like a complete solution aimed at the banks to push the #XRP token on them. Maybe they’ll bite? #crypto
— Weiss Ratings (@WeissRatings) August 20, 2018