On December 21, Bitstamp, one of the leading cryptocurrency exchanges, took to the twitter to celebrate the six-year anniversary of the XRP ledger. Bitstamp’s official handle tweeted:
“CELEBRATING: The XRP ledger is 6 years old today! As both an #XRP exchange and a #Ripple Gateway, we’re joining the #xrpcommunity in celebrating this moment!”
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers. The ledger is also the home base for XRP, currently the second-largest cryptocurrency on the planet. Post the announcement by Bitstamp, XRP Toolkit, a Twitter user enquired:
“Any plans to act as an EUR gateway for the XRP ledger? Just like you’re doing for USD and BTC.”
To which Bitstamp replied:
“Hey @xrptoolkit, if we decide to integrate this service on our platform we’ll be sure to let our users know! Stay tuned!”
The XRP Ledger was conceptualized with the main idea of bringing the community together ie. anyone with a cryptographic key and internet connection can receive, hold and send XRP to anyone else. It is also noteworthy that just a few days back, statistics had shown that the XRP ledger had garnered some surprising records since its beginning.
The XRP Ledger’s increasing decentralization was also brought into notice when it was found that Ripple controls less than 30% of validator nodes on the Unique Node List [UNL]. The reason why the lower hold by Ripple is because it distributes power to individual validators rather than just XRP’s parent company.
The records show that over the past six years, a total of $1 trillion has been transferred in the form of XRP and more than 900 million XRP transactions had taken place over the ledger. The data was compiled from ‘data.ripple.com’ and also revealed that 43 million ledgers were closed on the XRP ledger.
The XRP ledger was also in the news recently when Brad Garlinghouse, the Chief Executive Officer of Ripple, stated that Bitcoin [BTC] and Ethereum [ETH] were less decentralized than the XRP ledger.
Adding a statement to back it up, Garlinghouse said:
“The XRP ledger is more decentralized to the Bitcoin ledger or the Ether ledger where you have a very small number of miners controlling… Well it passed 50% mining power. So we’re excited about the progress we’re making.”
Garlinghouse further stated:
“I think it’s [ignoring FUD] hard because the ecosystem still has a lot of it but we’re gonna keep doing what we’re doing and I think we’d be very transparent with our strategy with our execution and we’re gonna continue to do that.”
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