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Ripple CEO says even he cannot control the XRP Ledger

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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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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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