Ripple's Control Over XRP Ledger 'Misunderstood', Says Crypto Asset Manager
21Shares, a crypto asset manager, has published a report stating that XRP may be one of the most misunderstood cryptocurrencies on the market. The report aims to correct common misconceptions about Ripple's control over the XRP Ledger (XRPL) and its native asset, XRP.
XRP was launched in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto as the primary goal of enabling fast, low-cost, and reliable transfers of value. The report notes that transactions on XRPL are completed in approximately 3 to 5 seconds, with an average transaction cost of around $0.0002. The network processes approximately 1.7 million transactions per day, using a consensus mechanism based on the agreement of independent validators.
The report highlights the differences between XRP, XRP Ledger, and Ripple. According to the analysis, XRPL is an open and decentralized blockchain network with XRP as its native asset, while Ripple is a private technology company developing payment and custody infrastructure on the network. 21Shares also argues that the widespread view that Ripple controls the network is incorrect, stating that Ripple operates only one of the 35 validators on the XRP Ledger's default trusted validator list.