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- Ripple CTO responds to issues about XRP’s centralization, DHS hacking, and his patent.
- David Schwartz maintains XRP ledger is open to everybody, not simply the highest 1%.
- Schwartz clarifies his patent’s relevance and Satoshi Nakamoto’s silence on XRP.
In a latest alternate on X (previously Twitter), a crypto fanatic, Wolf of Golden Road (WoGS), posed a number of intriguing inquiries to Ripple’s Chief Know-how Officer, David Schwartz, relating to XRP and its design. Notably, the queries stemmed from the famend Bitcoin maximalist Max Keiser calling XRP a centralized digital asset.
WoGS requested whether or not XRP really empowers the highest 1%, who seem to regulate the principle XRP system. He additionally expressed issues about potential hacking by the Division of Homeland Safety (DHS) and questioned the centralized design of XRP as inferred from a patent. Moreover, he contemplated the timeline between Bitcoin’s emergence and Schwartz’s patent and inquired about any feedback made by Satoshi Nakamoto relating to XRP.
David Schwartz responded to those queries in an in depth method. Concerning the declare that XRP empowers the highest 1%, he expressed uncertainty about what precisely that meant. He confused that XRP’s ledger is open for anybody to make use of, selling asset possession and alternate transparency.
Concerning the potential for the DHS to hack XRP, Schwartz identified the general public nature of XRP’s ledger and guidelines, making it unclear what hacking would entail. He acknowledged the potential for bugs however famous the speedy decision of such points, making repeat hacks unlikely.
Schwartz dismissed the notion that his patent was linked to XRP’s centralized design. For context, Bitcoin maximalist Keiser just lately unearthed a 32-year-old patent doc of Ripple’s CTO to argue that XRP is centralized. Schwartz defined that his patent targeted on a distinct idea that grew to become much less related over time.
Addressing the timeline query, Schwartz confirmed that his patent predated the emergence of Bitcoin (BTC). Nevertheless, he clarified that the important thing innovation in BTC was its use of proof of labor to resolve the double spending drawback, a function unrelated to his patent. Lastly, Schwartz famous that whereas Satoshi Nakamoto had commented on the unique RipplePay system, there have been no recognized feedback from Satoshi relating to XRP. He highlighted that XRP represented a basic technical divergence from the unique RipplePay system.