$11 Billion Asset Manager Sets Record Straight on Ripple and XRP Control
The $11 billion asset manager 21Shares has weighed in on some of the most persistent misconceptions about Ripple-promoted XRP. One of the main points addressed is the assumption that Ripple has direct control over the XRP Ledger (XRPL).
According to 21Shares, this assumption is fundamentally wrong. The firm emphasizes that Ripple is a private technology company, while the XRP Ledger is an open, decentralized public blockchain. XRP, meanwhile, is the network's native digital asset.
The XRPL's validator structure serves as evidence of its decentralized design, 21Shares notes. Ripple operates just one of the 35 validators included on the XRPL's default Unique Node List (UNL). Beyond that default list, there are over 150 known validators spanning universities, cryptocurrency exchanges, businesses, and independent individuals.
XRP's supply is capped at 100 billion tokens, which were created at the launch of the XRP Ledger. Unlike assets with continuous minting or inflationary issuance, XRP has no mechanism for creating new coins beyond that original maximum.