In a recent statement, David Schwartz, CTO of Ripple, discusses the growth of blockchain adoption and the achievements of the XRP Ledger.
Growth in Blockchain Participation
David Schwartz noted that the blockchain sector is seeing increasing participation from major players in payments and stablecoins. He commented on social media that the 'crypto tent is getting bigger,' adding that the fact that more companies are creating their own blockchains indicates that this technology is being viewed as core financial infrastructure.
Public Network with Optional Features
According to Schwartz, XRPL is a public, permissioned blockchain that also incorporates optional features. This makes it different from other networks that use only permissioned sets of validators. Schwartz pointed out that Ripple does not own the ledger, only controlling a small percentage of validators. However, critics have noted that most other validators are tied to Ripple as parent companies, universities, or organizations.
Debate Over Decentralization
Schwartz also pointed out that the discussion about decentralization versus centralization remains active within the blockchain community. He insisted that the XRPL was designed to balance participation while allowing for features that some regulated institutions may require. By emphasizing the network’s history and adoption, he framed XRPL as a tested platform in a fast-evolving blockchain environment of institutional adoption.
Schwartz's remarks indicate that Ripple sees XRPL’s history and technical flexibility as advantages in a competitive and experimental blockchain landscape.
