With the recent price explosion of XRP ( Ripple) many new users are flocking to buy this currency. I personally have never owned any and Im still not convinced that this will be a likely contender that could match the likes of Bitcoin or some of the more popular cryptocurrencies such as Dash, Litecoin, Ether and of course Steem to name a few.
Personally I think its a bunch of Bull-poop but then again we all mistakes
It seems a currency made for banks run by banks... correct me If Im wrong
With all this recent hype about ripple, Ive had a few mostly newbies telling me that XRP is a great coin to invest in and the price will rise to hights that nobody expects... well so far this has been true so I did a bit of research and ran into this article :
Ripple Unveils Strategy to ‘Become More Decentralized than Bitcoin’ article
Prominent FinTech payments firm Ripple has announced a strategy that it believes will ultimately make its blockchain more decentralized than Bitcoin.Ripple’s technology chief Stefan Thomas has revealed a three-point strategy toward making Ripple’s blockchain, the Ripple Consensus Ledger (RCL), more secure, efficient and decentralized than Bitcoin.
A key benchmark that we aim to achieve is to become more decentralized than Bitcoin, which at the time of writing is 51% controlled by just five mining pools. This means the largest five pools working together could achieve a 51% attack and reverse transactions (double spend) at will. For Ethereum, this number is even lower: only three pools are needed for a takeover.
Created in 2012, the RCL was developed as an enterprise-ready public blockchain – in contrast to bitcoin – geared for banks and payment providers to process cross-border payments. The RCL also serves as the root ledger for XRP, Ripple’s native digital asset.
So what do you think about Ripple, is it decentralized enough to be a cryptocurrency with any chance of making a diference that will benefit many not just a few? Is it a Pump and dump in the making? Do you own XRP or have you?