The XRP Ledger Rings In Its 6th Anniversary As They Look Towards More Ways To Decentralize
As XRP Ledger Rings In Their 6th Anniversary, They Look Towards More Ways To Decentralize
The longevity of crypto platforms around the world has been challenged through the bear market lately, but the XRP Ledger has been standing strong. In fact, their performance has been so strong that Bitstamp’s official Twitter took the time to commemorate their six-year anniversary with a short tweet.
The tweet read:
“CELEBRATING: The XRP ledger is 6 years old today! As both an #XRP exchange and a #Ripple Gateway, we’re joining the #xrpcommunity in celebrating this moment!”
As most people know, this ledger is fully decentralized for cryptocurrency, and resides on a peer-to-peer server network. It’s the platform for XRP, which is presently beating out every other cryptocurrency aside from Bitcoin, based on their market cap.
A twitter user questioned Bitstamp, in response to their anniversary tweet. They inquired,
“Any plans to act as an EUR gateway for the XRP ledger? Just like you’re doing for USD and BTC.”
Bitstamp didn’t delay in their reply, commenting,
“Hey @xrptoolkit, if we decide to integrate this service on our platform, we’ll be sure to let our users know! Stay tuned!”
The purpose of the XRP Ledger was that it could bond the community together, allowing anyone with an internet connection and a crypto key to exchange between each other. Only a few days ago, certain statistics about the Ledger exposed how many gains and broken records that the XRP Ledger has established.
Presently, showing exactly how important decentralization is to the company, data found that Ripple has less than 30% control of the nodes found on the unique Node List. This fact ensures that the power resides in the investors that take part, rather than in the company, which is exactly what decentralization highlights.
In the last six years alone, there has been $1 trillion worth of XRP transferred, and over 900 million worth of XRP transacted on the ledger. This information came from data.ripple.com, which also detailed the 43 million closed ledgers logged on this blockchain project.
Brad Garlinghouse, the CEO for Ripple, recently made comments about two other high-performing cryptocurrencies – Ethereum and Bitcoin. He states that both of their platforms offered a significantly lesser decentralized ledger than that of XRP.
Continuing, Garlinghouse noted,
“The XRP ledger is more decentralized to the Bitcoin ledger or the Ether ledger where you have a very small number of miners controlling… Well it passed 50% mining power. So, we’re excited about the progress we’re making.”
To further support his point, Garlinghouse added,
“I think it’s [ignoring FUD] hard because the ecosystem still has a lot of it but we’re gonna keep doing what we’re doing, and I think we’d be very transparent with our strategy with our execution and we’re gonna continue to do that.”