Out of the four contestants, Ripple (XRP) emerged victorious with 64 percent. Cardano took the second spot and Stellar Lumens (XLM) obtained the third position with 8 percent. The IOTA (Internet of Things) finished last with only 3 percent.
Ripple the company and its native cryptocurrency XRP were often criticized in the past for not being decentralized. This was also reflected in the allegations against Ripple, which claimed that Ripple Labs had a significant impact on the price of XRP. But recent figures show that Ripple operates less than 50% of the validators on the default UNL on the XRP ledger.
Ripple is working on making XRP more decentralized
There is an ongoing process in part of Ripple’s decentralization strategy that aims to make XRP ledgers more decentralized in the future.
Ripple Labs CEO Brad Garlinghouse has reiterated the San Francisco-based blockchain startup is not affiliated with XRP. According to him, Ripple Labs only develops solutions based on XRP’s open source technology. If Ripple, the company, doesn’t exist tomorrow, the XRP ledger will continue to operate.
XRP is an open-source and decentralized technology. The purchase of XRP does not mean that the investor acquires shares in the company Ripple.At the time of writing, Ripple is trading at $0.49, which is nearly double the price it has a month ago. The recent launch of Ripple’s product xRapid that facilitates cross-border payments helped boost the value of XRP.
