Ripple is one of the most successful blockchain development companies around, and one David Schwartz is the company’s CTO. However, there have been some concerns within the crypto community concerning XRP’s real utility. Also, some people have argued that XRP may not be as decentralized as presented owning to the fact that it was created by a single company.
In a tweet, Ripple’s CTO David Schwartz argued that a lot of people talk about XRP (the crypto) and XRP Ledger and their use cases while they ignore the reasons why many other entities are adopting the technology. David shared a link to a post on Ripple’s website where he set out to explain various intricate facts about XRP and the XRP Ledger.
Shun The Fiefdoms
First off, David highlighted the need for everyone within the crypto space to shun the divisionist mentality that promotes each project by itself without accounting for the input of the entire crypto and blockchain community. Indeed, it’s these small fiefdoms that have hindered the industry’s growth and potential for years.
According to David, the industry is much better-promoting interoperability among the various different blockchain projects to better tap into the power of decentralization and help solve existing problems. In that sense, it’s noteworthy that Ripple’s XRP Ledger supports such interoperability among crypto networks.
Going on, the CTO explained the inner design and workings of the XRP Ledger, adding that the Ledger is designed to enforce total decentralization, with a strong focus on enforcing a “no censorship” policy.
In this case, David explained, no single resource user can make central decisions on which processes get prioritized. No user can change or rescind a transaction once it is added to the Ledger.
XRP And XRP Ledger Are Valuable
As already known within the industry, XRP provides fast and highly secure payments processing network. Some banks are already using XRP as a base currency for cross-border transactions, utilizing its high-liquidity support.
In David Schwartz view, both XRP and XRP Ledger are valuable both in the present and the future. For example, there are various companies currently utilizing the technology to develop more use cases. The projects include internet content monetization (by Coil), XRPTipbot, Puma Browser, among others.