In a lengthy social media post, Ripple’s Chief Technology Officer David Schwartz said “Crypto Tent is getting bigger” in response to other players in the payment space and Stablecoins launching their own blockchain.
This indicates that blockchain is considered a “core financial infrastructure,” according to Schwartz.
XRPL’s 13-year Edge
Schwartz emphasizes that the XRP ledger has gained “real traction” over the past 13 years. “XRPL has been combat testing, updating and improving for over a decade, so it has real traction and institutional adoption,” he emphasized.
He further noted that the XRPL network is public and has no permissions, but also has an optional permission feature. Of course, this sets it apart from other blockchains that are specifically built with the allowed validator set.
Schwartz previously said that Ripple cannot control XRPL. This is because the company operates only a small portion of the network’s validators directly. However, it should be noted that some critics have previously pointed out that there is a tendency for the share of lions of other validators to ripple over. This means they are organizations linked to parents, universities or companies.
In his latest post, Schwartz says that decentralization and centralization are constantly being discussed.
Latest movements of the circle
Schwartz’s latest post announced that Ripple’s Archrival Circle announced earlier this week that it announced the launch of its own Layer-1 (L1) blockchain.
The new EVM compatible network, known as “ARK,” is intended to enhance the Stablecoin ecosystem.
ARK will be taking part in private tests in the near future.
