XRP Enthusiasts Claim the Altcoin is Not Centralized Following Ripple’s Temporary Server Outage
XRP Enthusiasts Claim the Altcoin is Not Centralized Following Ripple’s Temporary Server Outage. It’s stale news that several proponents of distributed ledger technology (DLT) have criticized Ripple’s XRP altcoin in recent times for being overtly centralized.
However, many XRP loyalist have taken to social media to argue that the recent Ripple server outage might be a solid proof that XRP is not centralized after all, according to reports on March 9, 2019.
XRP Not Centralized
Ripple, a san Francisco-based blockchain technology and fintech firm was flooded with allegations of insider trading when leading United States-based exchange, Coinbase recently listed XRP on Coinbase Pro.
However, the recent temporary server outage experienced by Ripple has got even the most supportive community members talking.
Reportedly, Twitter user with username @LeoHadjiloizou was the first to comment on the situation on the social media platform, suggesting that Ripple might have orchestrated the move to prove that XRP is not a security token. He also noted that the entire scenario has proved to critics that even if Ripple shuts down, XRP will continue to exist.
User @mick10572319 jokingly said that the firm might have just pulled an exit scam. “Had our money and gone lol,” @LeoHadjiloizou quickly replied saying that Ripple was performing an upgrade. However, @mick10572319 replied,
“More than likely, but I run a minuscule business at the side of Ripple, when my website is down I can always manage to put up a message saying “Site down for maintenance #justsayin.”
More Crypto Enthusiasts React
Twitter user @DiepSanh also jumped into XRP’s defense, arguing that Ripple and XRP are entirely independent entities, adding that the altcoin is “truly decentralized.”
“Ripple’s website is down! Ripple went away XRP is still being traded #XRPtrulyDecentralised,” declared @DiepSanh.
While many XRP loyalists joined the bandwagon, user @Ajaz_86 stated explicitly that the entire scenario is not a solid prove that XRP is not centralized. In his words:
“Not a ripple hater but just to point out this whole “ripple is down & xrp is still trading” doesn’t prove anything. It’s common to have the front end of your website hosted separately. It was a temporary outage and its back, nothing more to it.”
Although the outage only lasted for a few hours, people were quite curious as to why the website went offline in the first place. @DiepSanh informed anxious users about the site being online again and stated that:
“Ripple’s website is now back online. Let’s dig into their website to see if we can find any new updates. I have a feeling they have added or removed some piece of information.”
The firm has reportedly locked up 55 billion of the token in an escrow account to ensure XRP remains in supply at all times.
At press time, the price of XRP sits at $0.31, with a market capitalization of $12.99 billion and a 24-hour trading volume of $769.97 million.