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Ripple CEO says even he cannot control the XRP Ledger

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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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