Rajarshi Mitra
Independent Analyst
- Third-party entities run almost 80% of nodes.
- In the last year, XRP fell by over 43% compared to other cryptocurrencies.
As per Validator Registry, just seven of the 34 of the Unicode node list (UNL) validators in XRP, roughly 20%, are owned by Ripple. Third-party entities operate the remaining 80% of the nodes. This shows us that Ripple - often accused of being centralized - is a lot more decentralized than anyone expected.
The validators are the lifeblood of a decentralized network like Ripple. They are responsible for validating and processing transactions. Plus, they are also responsible for preventing double-spends within the network.
CoinField, a Canadian crypto exchange that’s extremely pro-Ripple, recently launched a UNL validator. The firm also stated that it is working to increase XRP adoption through a new, as yet disclosed, project.
In other news, the XRP Community is concerned about the massive XRP sales from Ripple. Ripple owns more than 50% of the total XRP supply. The funds are currently being used to expand the services provided by Ripple around the world. XRP holders and investors face a lot of selling pressure because of the XRP sales that the company conducts every quarter to fund its operations.
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