Ripple's Validator Role Debunked by Top Crypto Asset Manager
21Shares, a major issuer of cryptocurrency exchange-traded products, has taken aim at one of the most persistent claims surrounding XRP. The firm argues that Ripple does not control XRP and the XRP Ledger as many have claimed.
Ripple currently operates just one validator out of the roughly 35 validators included on the XRP Ledger's default trusted validator list. This has led to claims that XRP is substantially more centralized than other cryptocurrencies like Bitcoin. However, influence over transaction validation and direct control are drastically different things.
The XRP Ledger's documentation states it is a decentralized public blockchain and that Ripple does not own or control the network. There are more than 150 validators overall, and protocol changes generally require support from at least 80% of validators.