Ripple's XRP Ledger Network Looks To Decentralize More with Trusted Validators

Ripple's Ledger to Become More Decentralized with Third-Party Validators

The Ripple [XRP] Ledger has been promoted as a decentralized cryptographic ledger that runs on a peer-to-peer system, however, the entirety of Ripple has been slammed, as many believe that the notion of decentralization was not emphasized. This has been problematic, especially considering the fact that cryptocurrencies are known to be decentralized and the system in which the XRP coin is housed in is the total opposite. This is all about to change, as Ripple brings third party validators into its network.

Upon visiting the Validator Registry on XRPcharts, it is evident that out of the 18, 4 third-party validators have made the list with 14 owned by Ripple themselves. As per the charts, it appears that the new additions include Sweden-based, BahnhofAB, WorldLinkUS, Luxembourg-based, Telindustelecom and Florida-based, FlagshipSG.

As for the role of validators, it includes ensuring transactions are completed according to existing protocols. Furthermore, they prevent double spending by “grouping transactions into ordered units”.

Many questioned the Ripple system because of its implementation of the Unique Node Lists (UNL), however, the team involved argues that each participant who chooses to validate can use the UNL directly or indirectly. This means that even if Ripple tries to do something unusual, validators can step up and “change their UNLs to continue using the network”.

To confirm that such measures have been taken by Ripple, the following statement was released:

“Decentralization of XRP Ledger is a process that started right at its inception and has been ongoing since. We intentionally haven’t rushed the process and have been making continuous progress all along.”

According to the team, this step will help the “XRP Ledger become even more resilient,” and eventually surpass the notion of decentralization. This is definitely a significant jump, as the team is clearly listening to its XRP holders and making the necessary improvements to not only help the Ripple network expand, but also to increase confidence in its followers.

Get Free Email Updates!

*Action Required* Enter Your Email for Trending Crypto News & Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \\ Investment Disclaimer

Coin Market Cap Price Change 24 Hour Volume
BTC $164.93B $9,281.7502 1.49% $4.91B
ETH $28.72B $269.5186 1.27% $1.7B
XRP $18.48B $0.4348 1.49% $475.17M
LTC $8.5B $136.4627 1.78% $1.06B
BCH $7.43B $416.1429 0.82% $164.92M
EOS $6.32B $6.8726 0.75% $553.46M
BNB $5B $35.4137 2.44% $372.16M
BSV $4.02B $225.1173 0.69% $114.55M
USDT $3.54B $1.0027 0.20% $4.41B
XLM $2.41B $0.1242 -0.57% $60.37M

Get 3 Free Bitcoin eBooks for Limited Time Only

Receive three exclusive user guides detailing a) What is Bitcoin b) How Cryptocurrency Works and c) Top Crypto Exchanges today plus a bonus report on Blockchain distributed ledger technology plus top news insights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.