Ripple CEO Brad Garlinghouse: XRP More Decentralized Than Bitcoin
In a recent interview with financial news outlet Cheddar. Ripple CEO Brad Garlinghouse, who was speaking on the sidelines of the Ripple-sponsored industry conference “Swell” in San Francisco, said that he believes XRP is “very clearly decentralized.”
Garlinghouse made it crystal clear that XRP is fully decentralized, pointing out that he cannot, even as CEO, change a transaction on the XRP ledger.
He also talked about the irony of calling XRP centralized, as he believes that Bitcoin is becoming more centralized by the minute, and how over half of the hacking attempts launched on crypto are on BTC. He also stated that there are three Chinese-based miners that can control a vast majority of the Bitcoin blockchain.
.@Ripple CEO @bgarlinghouse responds to the criticism that $XRP isn’t decentralized and is not a true cryptocurrency: “It is very clearly decentralized. I, as CEO of the company, can’t control the XRP ledger.”#SwellbyRipple #CheddarLIVE pic.twitter.com/hj4XOawdPc
— Cheddar (@cheddar) 2 October 2018
Critics have long argued that all XRP tokens were under control of Ripple at the time of its inception, and a majority are still held in escrow by the company.
Garlinghouse has dismissed critics by stating that “they have an economic interest” in making these claims.
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