Despite Allegations That XRP Ledger Is Centralized, Ripple’s Release Of New Services Attempts To Prove Otherwise
Ripple has been accused lately of going against the fundamental development of the cryptocurrency community. When Satoshi created it in the first place, his goal was to become free of the centralization of the fiat market, but Ripple keeps trying to join fiat currency in their various endeavors. In an effort to show that they are still decentralized, they have been releasing new services like Coil, the XRP Tip Bot, and maybe 100 more.
Having 100 different projects in the works for the ledger is a stretch, but a new incubator program from Ripple Labs is around to make them into a reality. The project, called XPring, strives to “recognize the vast, still untapped potential of the [XRP] ledger and the asset for uses cases beyond the company’s focus.”
Basically, consumers should expect that XPring will be working to establish additional use-cases for the XRP ledger, since it is so flexible in its payments. The program is evaluating “100 companies and projects” that they can integrate. Combining the efforts of XPring and Coil, which is monetizing websites and pages, is part of the way that Ripple is trying to establish their decentralization.
Coil will be using the ILP and XRP to help micropayments be settles for website operators. However, the use of a protocol called payment STREAMing ensures that the website is paid in real time, rather than waiting for a payment to post. According to the creator of the ILP, Stefan Thomas, “his allows creators to provide ad-free experiences, exclusive content, and new kinds of applications.”
So far, there are over 500 YouTube channels and other websites that have been monetized, which provides a metaphorical door for Coil to enter. One of the services offered, XRP Tip Bot, operates entirely separately from Ripple. It is designed for use on social media platforms and allows watchers and readers to tip the creator of the content, which is given to their applicable wallet or account within four seconds.
With these small developments, it’s clear that the XRP ledger can be used for a decentralized purpose. Even though the use of the UNL feature makes the Ledger decentralized, the way that it can be applied to other purposes qualifies it as more of an open platform.