It is evident Ripple is focusing on decentralization as much as any other project in the cryptocurrency world. The developers recently introduced changes to the Ripple Consensus Ledger to achieve that goal. Two main components are driving the next push toward more decentralization, although there is still a more work to be done in the coming years.
Ripple Makes More Efforts To Further Decentralize RCL
A lot of people often refer to Ripple as a centralized public ledger project, although that is a common misconception. In fact, the Ripple Consensus ledger has become more decentralized, ever since the project was initially launched many years ago. Slowly but surely, the developers and engineers have been chipping away at introducing more decentralized features. If these efforts keep up, there is no reason to believe XRP won’t become the digital set for payments around the world.
One of the new features recently introduced is referred to as diversified validators. To be more specific, there are 25 validator nodes supporting the Ripple network right now. That number may seem small to the outside world, but it has been growing slowly. The Ripple team wants to diversify their validators as much as possible. Removing any single point of failure from the equation is the end goal.
Additionally, the Ripple ecosystem wants to add more attested validators to their Unique Node Lists. These lists contain validating notes used by specific network participants. These trusted nodes are the ones validating transactions, deal with amendments, and alter fees when necessary. The current objective is to introduce more third-party validating nodes. This can only happen is said node operators meet the necessary requirements, though.
In the long run, Ripple aims to become more decentralized than Bitcoin. This may sound strange, although it is not impossible either. Bitcoin is controlled by miners and mining pools, regardless of how people want to state otherwise. It is quite an ambitious goal, but it is good to see the Ripple team focus on decentralization. Whether or not all of these changes will reflect positively on the value of XRP, remains to be seen.
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.