Decentralization Drama Debate Between Ripple (XRP and Bitcoin (BTC): Which is More?
Is Ripple More Decentralized Than Bitcoin And Ethereum?
There are those who debate that Ripple is centralized since it works in partnership with banks. Even though this is so, Ripple is not owned nor controlled by any of them. Ripple only offers blockchain-based money transfer solutions for banks.
Ripple CEO, Brad Garlinghouse commented on this in an interview with Fortune magazine:
“Ripple’s technology, IRP, is open source, XRP Ledger is open source. If Ripple as a company went away, XRP would continue to trade. To me that’s the definition of decentralization.”
From the above information Ripple is can be classified as decentralized and this is not in any way affected by its partnership with banks. However, Ripple Labs Inc. and CEO are facing a class action lawsuit to determine whether or not Ripple is a security.
At the beginning of the year Ripple CTO, David Schwartz tweeted that increasing ripple’s decentralization was his “number one priority for 2018”.