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Ripple CEO says even he cannot control the XRP Ledger

Published

6 years ago

on

Ripple

Today, while giving the interview to a journalist during the Swell event, the CEO of Ripple, Brad Garlinghouse made it crystal clear that XRP is fully decentralized. The head of Ripple even went on to say that all the FUD around XRP is spread by only the haters who have an economic benefit in doing so.

While responding to the criticism that XRP is not decentralized, he went on to say even he as a CEO cannot control the ledger of XRP or change a transaction, that’s how much decentralized the cryptocurrency token is. Once an Uber drive and now the CEO of Ripple, emphasized that XRP is ‘very clearly’ decentralized.

Brad Garlinghouse went on to that irony this is, as XRP has become more decentralized, Bitcoin is getting more centralized. Backing his statement that Bitcoin is becoming more centralized, Ripple CEO said that more and more 51% attacks today are launched on Bitcoin and only three mega miners that are based in China that can control Bitcoin blockchain. Cheddar Tweeted a part of the interview video earlier today:

The main head behind Ripple currently, Mr. Garlinghouse believes that a lot of people are spreading the misinformation merely for their economic interests and that does not bother him much. He thinks the facts are crystal clear and say by themselves.

Talking about the facts he said, it’s a fact that anyone can check the XRP ecosystem and that if Ripple does something which is not in the XRP ecosystem’s best interest, the rest of the ecosystem is undoubtedly going to ignore them.

The CEO asserted that without touch the technical stuff for the sake of the general public’s interest, he can confirm that XRP is a decentralized coin at its best. And if someone wishes to dive into the technical details, he’ll find only that too. According to Garlinghouse, many people continue to confuse the general public about Ripple and XRP intentionally, which are two different entities.

In response to the confusion, he said, that’s something that he wants the community to understand. Concluding the discussion, Garlinghouse said,

“Ripple is a centralized company investing in decentralized technology, in the same way Amazon was invested in TCP/IP”

As we all know, times haven’t been that good for crypto market lately, and Ripple’s XRP hasn’t been an exception either. But on top of market trends, two main reasons kept investors away from Ripple(XRP). One was this daunting debate that XRP is centralized, and the other was, it’s a security.

Now, both of these issues seem to be getting resolved over time rather nicely, so we can all expect some good days are coming for the crypto. Yes, the time will tell what’s ahead, but things are apparently starting to change. And, the latest affirmation of Ripple CEO on XRP centralization issue could affect on its market positively too.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

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December 27, 2023

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

on

December 22, 2023

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…

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Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

Published

5 months ago

on

December 1, 2023

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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