Ripple CTO David Schwartz Shares How XRP and the XRP Ledger Work to Crypto Investors

There are some people that yet do not know how XRP’s ledger and the system works. This is why David Schwartz, the Chief Technology Officer (CTO) at Ripple wrote on Twitter a clear explanation about how the XRP Ledger works for both institutions and individuals.

According to the Twitter user Mr. XRP, there are people that think there is a ledger for retail and a ledger for institutions. David Schwartz answered immediately saying that it is hard to imagine how this would look like.

Schwartz went on explaining that the idea of having two different ledgers that are bridged through an asset issued on both networks sounds good but it has not been constructed yet.

The CTO at Ripple said that the authoritative record of who has what XRP is the XRP Ledger. Additionally, he mentioned that it might be possible to use XRP on private ledgers but it would need operators of this private ledger to get XRP before and create a bridge between the networks.

XRP has always been criticized for being a centralized currency operating in a network that is centralized. Nevertheless, there are several validators confirming the transactions and Ripple does not own a majority of these validators.

Indeed, Ripple and XRP supporters usually claim that Bitcoin (BTC) and Ethereum (ETH) are considered centralized because of their mining centralization in China. It might be possible for the Chinese government to play an important role in attacking the Bitcoin and Ethereum network.

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