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TXRP got much more love than they deserve - Ripple is heavily centralized and fights real decentralization in the crypto space
During the SEC lawsuit, I have noticed XRP getting a lot of love from the crypto community, and I can understand this. The SEC was never only going against Ripple as we have seen this year, so this entire lawsuit was somehow representative for all of crypto.
However now that things are somehow settled, we should face reality: XRP is just another heavily centralized project, no matter if it's a security or not. The consensus mechanism is literally proof of trust - The network runs on a bunch of bank owned servers, relying on all participants being doxxed. This is not innovative blockchain tech, this is the same old banking system using "blockchain" as a marketing term.
I could live with that alone or ignore it at least - XRP it's by far not the only centralized cryptocurrency. However Ripple has also done their best in the past to fight real decentralized cryptos like BTC and ETH:
They often attack BTC, for example Ripple CFO claimed BTC is controlled by China in 2020 (source https://gizmodo.com/ripple-claims-bitcoin-is-chinese-controlled-while-annou-1845932148). he same claims were made against Ethereum according to Vitalik Buterin (source https://zycrypto.com/vitalik-buterin-faults-ripples-decentralization-claim-says-the-platform-is-completely-centralized/), for which they never apologized.
Also most of you probably remember they funded a FUD energy campaign that tried to push Bitcoin towards PoS (source https://decrypt.co/96298/ripple-co-founder-backs-controversial-campaign-change-bitcoin-code).
& #x200B ;
At this point people should really think twice if that's a project they want to support just because there is some bullish outlook after they won the case. Ripple is not using, but abusing "blockchain" - and they are certainly not your friends.
During the SEC lawsuit, I have noticed XRP getting a lot of love from the crypto community, and I can understand this. The SEC was never only going against Ripple as we have seen this year, so this entire lawsuit was somehow representative for all of crypto.
However now that things are somehow settled, we should face reality: XRP is just another heavily centralized project, no matter if it's a security or not. The consensus mechanism is literally proof of trust - The network runs on a bunch of bank owned servers, relying on all participants being doxxed. This is not innovative blockchain tech, this is the same old banking system using "blockchain" as a marketing term.
I could live with that alone or ignore it at least - XRP it's by far not the only centralized cryptocurrency. However Ripple has also done their best in the past to fight real decentralized cryptos like BTC and ETH:
They often attack BTC, for example Ripple CFO claimed BTC is controlled by China in 2020 (source https://gizmodo.com/ripple-claims-bitcoin-is-chinese-controlled-while-annou-1845932148). he same claims were made against Ethereum according to Vitalik Buterin (source https://zycrypto.com/vitalik-buterin-faults-ripples-decentralization-claim-says-the-platform-is-completely-centralized/), for which they never apologized.
Also most of you probably remember they funded a FUD energy campaign that tried to push Bitcoin towards PoS (source https://decrypt.co/96298/ripple-co-founder-backs-controversial-campaign-change-bitcoin-code).
& #x200B ;
At this point people should really think twice if that's a project they want to support just because there is some bullish outlook after they won the case. Ripple is not using, but abusing "blockchain" - and they are certainly not your friends.
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