In a recent interview, Ripple's Chief Technology Officer David Schwartz debunked major myths surrounding the company's control over the XRP Ledger, highlighting the decentralized nature of the network.
Schwartz on XRP Ledger Control
David Schwartz noted that the biggest misconception is that Ripple controls the ledger. He explained that the network operates as a public blockchain where every node enforces the same rules, leaving no room for a single party to manipulate transactions. Schwartz added, 'There's nobody who's ever had a transaction stopped by Ripple.'
Role of the Unique Node List
Schwartz also discussed the Unique Node List (UNL), which currently contains about 33 validators. This list is created to prevent malicious actors from flooding the network with false identities that could disrupt consensus. Unlike other blockchains, where scarcity comes from mining power or staked assets, on the XRPL, trust in selected validators ensures rule-following. Schwartz emphasized that validators cannot create or destroy XRP outside of established protocols.
Security Principles of the XRP Ledger
Regarding lost ledger data from XRP's early history, Schwartz confirmed that some transactions were lost due to a bug when XRP had no market value. He also highlighted that the safety approach of the network follows an 'anti-robustness principle,' meaning it halts whenever something unexpected occurs to prevent processing transactions under uncertain conditions.
David Schwartz clearly stated that the XRP Ledger is decentralized and its security is maintained through collective control by validators, effectively debunking common myths about Ripple's control.
