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r/CryptoCurrencySee Post

Ripple needs to improve XRPL ecosystem and create level playing field - Serious Issues With Ripple and XRP (Community Based Investigation)

r/CryptoCurrencySee Post

An alternative way to attack the XRP Ledger: temper with the default/unique node list (UNL) published on the websites that are run by Ripple. Ripple Foundation and Coil, have your malicous validators ready and start wreaking havoc since most XRP Ledger validators will follow the UNL list blindly

r/CryptoCurrencySee Post

What you need to know about Decentralized Finance (DeFi)

Mentions

r/CryptoCurrencySee Comment

There's more than one published UNL

Mentions:#UNL
r/CryptoCurrencySee Comment

"MEV is an abbreviation of "Miner Extractable Value" or "Maximal Extractable Value.". It refers to profits that can be made by extracting value from Ethereum users by reordering, inserting or censoring transactions within blocks being produced.". MEV doesn't happen on XRPL no one has ever witnessed an exploit in XRPL because there's no incentives to change timestamps or front run using the mempool, it's not slow as ass either you can't create a bot to do it if you wanted to. There's multiple UNLs with low overlap of Ripple published UNL. With the way consensus works on XRPL it takes much less to become decentralized compared to an adversarial network like BTC or ETH. Miners have total control of transaction inclusion and ordering process in ETH and BTC. Validators in XRPL have no control over transaction inclusion or ordering process they either submit the same ledger as everyone else or they immediately get shit canned. The fear of Ripple or it's partners changing the network is pretty unfounded. Especially considering most of the other nodes are Universities, research institutions, and other businesses relying on the network to function properly.

r/CryptoCurrencySee Comment

Reorder blocks ? Pre-mine blocks ? You really don't even know how a merkle tree works do you ? Nodes have no say in the protocol, they have the same power as a witness node on Ethereum (aka purely informative). UNLs are the only ones that matter and large portion is controlled by Ripple or its partners, if that's what you call decentralized then you're delusional. Also public MEV is currently the lesser evil in the current solutions and unless you have proof of a reliable anti-MEV system in the Ripple protocol then MEV will exist and the only ones to use it will be the expensive and handpicked UNL owners.

Mentions:#MEV#UNL
r/CryptoCurrencySee Comment

>probably be forced to pivot into to paying for transactions on its technology with a CBDC currency Federated sidechains are on XRPL and will be utilized by CBDCs. It's hilarious you think they haven't been planning for this for almost a decade. The Digital dollar projects highest funding comes from Ripple since it's inception. Ripple is the largest lobbyist for CBDC. But somehow they will have to pivot, mk. >relatively centralized chain that it’s creators sell to enrich themselves. For one the chain is more decentralized than BTC or ETH with the Nakamoto coefficient going down overtime. Second the founders sold out it's done and even when they were selling it was orders of magnitude less than ETH or BTC miners. $1.5 Billion over 9 years versus 1-2 months miners selling that much. >How can you claim to have a decentralized token when nodes can’t even mine it or stake Decentralization doesn't require mining or staking don't know where you conjured that idea from. The XRPL is decentralized, there's no argument to be had about it. Trust is explicit in XRPL it's a requirement to be a node operator. With every new UNL published it becomes more decentralized.

Mentions:#BTC#ETH#UNL
r/CryptoCurrencySee Comment

>I have done my research clearly not if your evidence for it being centralized is that someone publishes a UNL which isnt required to participate or reach consensus with the network... >and there is no clear answer, the awnser was just handed to you above. maybe read it. >You are obviously a Ripple shill based on your profile, so nothing you say can be trusted. yes the person providing answers, documentation and information is the shill.

Mentions:#UNL
r/CryptoCurrencySee Comment

>33 nodes must finalise the transactions, and those are hand picked by Ripple. yikes 2017 wants its fud back. Ripple provides a list for the dUNL (default unique node list) you are not required to use this list and can follow other peoples lists which contain Zero ripple validators (like mine or the XRPL.org's list etc) Or you have the choice to make your own UNL. If you're going to try and FUD at least attempt to understand what you're talking about. https://xrpl.org/faq.html#which-unl-should-i-select

Mentions:#UNL#FUD
r/CryptoCurrencySee Comment

Nope, you've always had the option to setup your own UNL. It's actually how the foundation of the protocol functions. Payments "rippling" through the network being voted on, verified and confirmed by various UNLs. Each one is sort of like it's own resistance cell passing info or vote onto the next across the network It's a simple text file which is like 16 lines of info. Rarely do people wish to run a node on the network and even rarer do they wish to dig deeper and setup or decide who they want pout on their own UNL tho.

Mentions:#UNL
r/CryptoCurrencySee Comment

>Is it now permissionless? It has always been permisonless. >I thought all nodes were still selected and had to be white listed? There is a list of validators which is on the default UNL settings which you can choose to use if you wish. You are not required to follow this UNL tho, and can follow the many publicly issued other UNL's or you are free to create your own. All that is required to prevent you to creating last close ledgers is a roughly 41% minimum overlap. My own UNL contains Zero of Ripples validators.

Mentions:#UNL
r/CryptoCurrencySee Comment

Lightning ‘nodes’ are merely donkeys for the centralised shit protocol that was coded as “lightning”. XRPL has thousands of nodes, not all are on UNL. Yet it has full transparency, unlike your shitcoin which has its CEO still veiled in secrecy. XRPL has ten years of proof it works, lightning has months showing it does not work.

Mentions:#UNL
r/CryptoCurrencySee Comment

90% isnt required. i run a validator and dont create any last close ledgers hovering around 41% overlap. >that means for the XRPL to continue to function almost every validator has to use the Ripple UNL. nope. feel free to spin up a validator and run the XRPL.org's UNL which contain zero of Ripples validators. or create your own like I do and test the system. Personally over the almost 5 years ive been running mine ive found my threshold is around 41%. >Stellar has a completely different consensus with accurate thresholds and assumption which are specified in its white paper that has been peer reviewed and cited by Stanford. appeal to authority /yawn try and form an actual argument please.

Mentions:#UNL
r/CryptoCurrencySee Comment

The XRPL requires > 90% overlap in trusted nodes to remain viable. Ita original whitepaper specified < 20% which was debunked by Ripple own lead dev at the time. That means for the XRPL to continue to function almost every validator has to use the Ripple UNL. Stellar has a completely different consensus with accurate thresholds and assumption which are specified in its white paper that has been peer reviewed and cited by Stanford. >90% required overlap is, by definition on the high end of centralization.

Mentions:#UNL
r/CryptoCurrencySee Comment

> Its not decentralized because there is a company who has control over the network. No. They. Don't >> https://xrpscan.com/validators They operate a tiny minority of the number of validators in the UNL, which is naturally an even smaller percentage in the main net. The XRPL can easily exist without Ripple existing. That you don't know this makes me discount anything you say about XRP.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

What makes you think it's centralized? Check out the XRPL UNL, and note the number of validators ripple runs. If you're not familiar with the consensus model that the XRPL runs on, you need 80% approval for changes, or 20% to block. Ripple doesn't have either. If it's supply centralization, that is a valid concern, and Ripple set up their escrow so dumping their massive supply is impossible. Note that when Ripple does sell XRP, it's not to retail, it's to institutional partners, or to incubate projects. Unsold XRP gets added back to the escrow if it's not sold that month.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

Erm....anyone can run a validator node and no one can force the UNL on any other validators. But there's simply just no monetary incentive for the average joe to run a validator.

Mentions:#UNL
r/CryptoCurrencySee Comment

According to ripple labs, ripples only owns 16% of the UNL's. The XRPL was the first dex to ever exist in this space and the 50 billion tokens in escrow will never be sold / dumped on retail as its strictly meant for their odl products when hvps in ALL corridors go live. Also ripple does not own xrp, xrp was gifted to ripple back when it was called open coin, if for any reason ripple the company goes bankrupt or dissolves all its assets xrp will still be fine as its its own entity. From my standpoint xrp as a coin is far more decentralized than ethereum and bitcoin. We have no idea who the disgused eth whales are from the EEA ICO, absolutely zero transparency where as ripple has been fully with xrp. And the entire btc supply has more whales holding it hostage than any other crypto in this space.

Mentions:#UNL
r/CryptoCurrencySee Comment

> As far as I'm aware the Ripple company controls who is allowed to be a validator by publishing the UNL. Anyone can become a validator you can be up and running in 10-15 minutes. its been open source since 2013. Ripple only control the Default UNL or dUNL which isnt required. Anyone can publish any UNL they like or follow anyone elses UNL or create their own UNL(like i do) >I don't know if in practice they could could coerce all validators to take some action like stopping, censoring, halting or reversing transactions, but they certainly could in theory. Nope lol. It's a bit of a trick question to see if the other party even knows how consensus is reached. There is no mechanism which would even allow this with how the rounds of voting happen during the RCP. you cant vote No I didnt see that transaction and then continue to vote no in subsequent rounds. the only way to "censor" a transaction in RCP is if it breaks one of the systems rules, which you should be censoring anyone (IE if a transaction would create more XRP it is discarded) > They could tear the community in half easily changing my UNL takes about 3-4 minutes and the majority of that would be simply loading up the panel to log in... >the SEC definitely is interested in practical things so perhaps they'll decide something else. The SEC much like yourself Cant even articulate how a buying XRP from a 3rd party constitutes an investment contract in a common enterprise https://www.sec.gov/corpfin/framework-investment-contract-analysis-digital-assets (footnote #10) > so it is not a no true scotsman fallacy. When you say something isnt an "actual cryptocurrency" That is the very definition of the no true scotsman fallacy. this is what im highlighting.... >In my opinion Ripple is controlled by a central authority, thus it is not a cryptocurrency. I just went over this with you so now am I to assume you're talking about the Company Ripple? Like of course the company Isnt a DAO and has a central authority called its board of directors which control the company.... its a private, for profit, fintech company which has developed tech solutions which utilize XRP and the XRPL. Yes the company isnt a cryptocurrency.... XRP however is very much not controlled (when asked for examples of authority you have none) >Ripple certainly makes an effort to decentralise the network by using a network of external validators. But making an effort towards is not the same as actually being something. So when asked for an example of when or HOW ripple could do the various things ive stated above, you have none from history or even valid theoretical examples.... How are they a central authority if they run between 1-5% of the total validators? Let me give you an example, Within the last year or so there was the cheques amendment to the network, This allowed people to halt an incoming payment from a user to their own address until they had done sufficient KYC/AML reviews and then at a later point accepting the payment that was sent. This was important for certain regulatory regions. Imagine your a bank, you dont want to just take peoples money without knowing who they are or where the money is coming from. Seems reasonable, seems like an ok upgrade to the network right? Well it was developed by Ripple and released in 2018, it took them 3 years of tweaks before We the validators approved and accepted this amendment. Ripple has no control over the code we run. It was only after making changes to how their proposed amendment did the validators vote yes and accept the amendment. if Ripple is an authority as you claim, why not Force us to run their code? They spent time and money developing something and had no idea if it would be accepted by the network.

Mentions:#UNL#XRP#DAO
r/CryptoCurrencySee Comment

>can you tell me what about this basic definition XRP does not meet and provide examples as to why it does not meet the definition "a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority." > >and just because Im a fortune teller, before you come back with "the decentralized part" Can you show me a Central authority who has control over the XRPL. Can you show me how they can stop, censor, halt, reverse transactions? How about create more XRP? Force validators to run their code? As far as I'm aware the Ripple company controls who is allowed to be a validator by publishing the UNL. Isn't that true? I don't know if in practice they could could coerce all validators to take some action like stopping, censoring, halting or reversing transactions, but they certainly could in theory. They could tear the community in half easily. That sort of theory is the same argument that is used to argue that Ethereum staking is not soundly decentralized. In my opinion it crosses a line, but I'm not the SEC, and the SEC definitely is interested in practical things so perhaps they'll decide something else. |No true Scotsman fallacy. |No true Scotsman fallacy 2x. As you conveniently included in your argument, there is a clear definition of cryptocurrency we both agree on. My argument does not extend past that definition, so it is not a no true scotsman fallacy. In my opinion Ripple is controlled by a central authority, thus it is not a cryptocurrency. I recognise there is a grey area here, and Ripple certainly makes an effort to decentralise the network by using a network of external validators. But making an effort towards is not the same as actually being something. So there, we finally have an actual discussion, was that so hard?

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

I don't think that its a securities violation because as far as I know, uniswap made no specific claims that people would make money buy buying an individual coin, and the potential gains have nothing to do with how UNL is managed. The contracts are deployed and they have no day to day managerial control over how the smart contracts operate. I also don't think they will be required to register as a broker since they are purely non custodial? INAL tho

Mentions:#UNL
r/CryptoCurrencySee Comment

>Bruh, what? Please, do share which of the things I wrote about how the consensus is reached is wrong. "Those are rhetorical questions, of course. Their answers lead to the conclusion that Ripple is a centralized garbage chain." You are misinformed about this. > or you ignore blatant facts which are specified in the docs of the XRP Ledger. such as? I'm having a conversation with someone who cant even read the basic introduction to consensus paperwork they've been given. So I would hardly expect you to have even the basic idea of how consensus is reached. Maybe you should read past the first line. >You have to be approved by a certain number of nodes so that your validation messages have meaning. Anyone can add you to their UNL it is up to the person or business to decide if they want to listen/trust your validator. There is no Council or exclusive list of people that all need to approve you. You just need to have good Server metrics and do good work to convince others that you are trustworthy in their eyes. This takes Time and effort on your part in maintaining a good responsible validator. No one is going to want to add you if you constantly are offline, dont update to latest software, have load issues or incorrect hardware specs, are slow, arent identified etc There are many metrics a user might want to consider before adding a validator to their UNL. >centralized af no it isnt? lol, There is no list of people that are required to all add you... There is no council or exclusive group who decides who participates and who doesnt, Anyone on the network is welcome to add you... No one can stop you from running a node/validator. >The Sybil protection mechanism is entirely trust based, meaning that there is no Sybil protection mechanism Yes using fake Identity's is the best way to attack this network, but have you ever wondered why in the roughly decade its been running there hasnt been a single successful attack? Its because Trust isn't automatic and maintaining that trust also isnt automatic. If you want to spin up 100 validators and spend years earning peoples trust to get in various UNL's, Guess what happens the second you start voting No on consensus (which is all a bad actor can do) I can simply remove you and continue on... You spend years earning trust to destroy it for no gain(because you cant double spend on the network) and now you're not on any UNL's anymore... see how that works? >Please, do share how the adversary nodes are penalized. If you constantly vote No on consensus, I can see your votes... The only reason to vote No in multiple rounds of voting is because you are a bad actor... so I simply remove you from my UNL and now however much time and effort you spent trying to earn my trust is burned by you for no gain.... >The XRP ledger doesn't solve even the Byzantine Generals Problem The XRPL is BFT....it has a two-stage system that eliminates the need to reliably agree on anything but what has already happened. Bitcoin Bends the rules of the problem by not having the need to commit by an exact time, XRP bends the rules of the problem by making the double spend problem not a big problem. The Issue of falling out of a ledger re-write is massive for BTC (block rewards go poof) In XRP's consensus you only have to minimally trust the majority of validators. Like they cant censor you without giving you irrefutable proof, they cant undo a transaction and they cant make unsigned or invalid transactions execute. Plus you always have a solution if they attempt to betray your trust. which is you simply change them or you can fork without having to incentivize miners (like BTC) >I feel sad for maxis like you who don't even understand what they're investing in. You think XRP is my only holding? I mined btc in 2011 on my GTX580... Bought my first XRP in 2016 below a penny. Im not a maxi im just someone who actually runs a validator and knows wtf they're talking about. You however, should do more reading to better understand wtf you're talking about.

r/CryptoCurrencySee Comment

>You are always welcome to be incorrect and misinformed. I gave you the data which answers your questions and gives you the knowledge to learn why you are incorrect in your understandings. Bruh, what? Please, do share which of the things I wrote about how the consensus is reached is wrong. You're repeating some stuff like a parrot, meaning that you either don't understand how consensus is reached in a distributed system or you ignore blatant facts which are specified in the docs of the XRP Ledger. >Anyone can add you to their UNL, there is no centralized group decided who does and who doesnt participate. You arent required to use the dUNL there are multiple including mine which contain Zero of Ripples validators. but hey, if you wanna be wrong go right ahead, dont let me take the shovel out ur hand. Bruh, I have to be approved by a certain number of nodes so that your validation messages have meaning. That is centralized af. The Sybil protection mechanism is entirely trust based, meaning that there is no Sybil protection mechanism lol Please, do share how the adversary nodes are penalized. The XRP ledger doesn't solve even the Byzantine Generals Problem, it has 0 innovation, literally. I feel sad for maxis like you who don't even understand what they're investing in.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

>This is enough for me lol What a joke. Anyone who invests in such crap deserves to be laughed upon. You are always welcome to be incorrect and misinformed. I gave you the data which answers your questions and gives you the knowledge to learn why you are incorrect in your understandings. >Lol I can run it but I can't do shit unless I'm approved by a centralized group. I can't paricipate in the consensus. And this is normal given that the Sybil control mechanism relies on trust. Anyone can add you to their UNL, there is no centralized group decided who does and who doesnt participate. You arent required to use the dUNL there are multiple including mine which contain Zero of Ripples validators. but hey, if you wanna be wrong go right ahead, dont let me take the shovel out ur hand.

Mentions:#UNL
r/CryptoCurrencySee Comment

>How does the XRP ledger guarantee consensus? https://xrpl.org/intro-to-consensus.html#:~:text=The%20core%20principle%20behind%20the,honestly%20most%20of%20the%20time. >Also, can I run a node? I would really like to participate as a validator. Open source, permissionless network. https://xrpl.org/run-rippled-as-a-validator.html anyone can run a node/validator, assuming you have the hardware to do it, you can be online in 15-20 minutes. >Those are rhetorical questions, of course. Their answers lead to the conclusion that Ripple is a centralized garbage chain. I'm guessing you've never been told you're wrong before? also Ripple is a company, XRP is the decentralized chain. >Just replicated databases split across a closed circle. you should read and better understand how UNL's function on the XRPL.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

XRPL = \ = Ripplenet two entirely different things. you need to update your knowledge because what you've asserted is not accurate. Just since January of this year there are now 500+ unmapped nodes added to XRPL. Anyone can now make a node because of the UNL updates in Dec of last year even on a raspberry pie though not effective adds to the network. Nodes are now automatically made into validators based on coded criteria. Ripple has very little to no control over the network which is evidenced by the fact that they very vocally opposed the checks amendment added to the ledger and we're out voted by the network. The network is controlled by the nodes which happen to mostly be Universities and institutions outside Ripple that are using the network for their own development. While XRPL will become more decentralized over time, Ethereum will become more centralized. As POS combined with deflation will cement early VCs into total control over governance. XRPL is more decentralized than Ethereum mining pools and obfuscated DAO where no one knows how much of the +60% of total ETH in existence from the DAO is held by a few.

r/CryptoCurrencySee Comment

That's not how it works mate, FBA consensus is NOT the same as mining completely different architecture. The UNL is a suggestion there are several published by other stake holders. The largest operator of validator nodes on the network runs 5-6% which is going towards 1% stated goal . On a network where it requires 80% super majority to make changes. There are mining pools and singular mining operators with more network control than Ripple. Mining only requires 51% for double spend to be a problem ,Numbers matter.

Mentions:#UNL
r/CryptoCurrencySee Comment

More decentralized than Bitcoin and Ethereum with only 114 validators... And only 34 validators on the UNL picked by Ripple, and 5 of those directly controlled by Ripple.

Mentions:#UNL
r/CryptoCurrencySee Comment

Because everyone knows a mining pool reaching 51% hashrate can create a consensus problem this has always been avoided. Mining pools have an internal cap and will stop accepting miners or miners have simply migrated to a smaller pool. Switching pools takes seconds all you do is change the address on your miner software. The only problem with mining is that the economics of the power consumption and the hardware costs tend to favor centralization in countries like China. That's the danger and it can't really be avoided unless you switch to PofS. If you want to compare apples to apples XRP has +35 UNL nodes. Eth has 6k. BTC has 15k. If centralization is your concern look no further than XRP.

Mentions:#XRP#UNL#BTC
r/CryptoCurrencySee Comment

the key word your missing is Default. You are not required to follow it, there are other UNL's you can select or you can make your own if you choose.

Mentions:#UNL
r/CryptoCurrencySee Comment

No, anyone can start a node. Ripple publish a UNL, which is a collection of validators they trust. You can choose to use their UNL, or you can choose your own UNL, it’s just a list of validators. Ripple recommend their one because the validators in it have a good track record, the number of validators Ripple own within their recommended UNL is below 20%, with the rest being ran by third parties. They do own more than 50% of the supply, which is escrowed and releases 1bn tokens per month. Ripple has said this is used to develop the XRP use case and ecosystem, obviously we have to take them at their word for this, but with the XRPL being a public ledger we can see exactly where those tokens go and they often re-escrow significant portions (70-80%) of the 1bn that isn’t used. Knowing where those tokens are and exactly how much is being moved is infinitely preferable to something like BTC where whales are free to pump and dump as much as they like. Let’s not pretend this is an issue exclusive to XRP, but I’m happy to admit that having concentrations of the supply in the hands of a few is an issue across crypto as a whole. You can hate XRP for so many reasons that would be justifiable, they work with banks and maybe you hate banks, maybe you’re a big SEC fan and you don’t like Ripple turning them over in court, even not liking the escrow is valid and you mentioned that which is fair enough, but don’t bullshit about the objective facts that are available online in regards to centralisation. The XRPL is well documented and there’s no need for people to still believe stuff like ripple own all the nodes and other shit like that.

Mentions:#UNL#XRP#BTC
r/CryptoCurrencySee Comment

Well i never really said or meant that decentralization makes a network immune to bugs and bottlenecks, those are mostly caused by bad design, negligence or unrealistic expectations/goals. Most of those are man-made, complete outage is a different topic though. Assuming bugs and bad design are out of the question a sufficiently decentralized systems should have enough participants remaining to prevent outage even if specific areas of the network are unreliable, out of sync or down completely. Solana wen't down due to validators going out of sync, which at some point caused the network to halt and it required a restart. A good example of a completely different approach to a similar problem would be the XRP Ledger. The consensus protocol and overall consensus in a Federated Byzantine Agreement network requires a minimum quorum to come to consensus, in the case of the XRPL that requirement is \~80%. In turn this would mean that similar to Solana the whole network could come to a halt and stop processing transactions f.e. in case of a major power outage that affects 20% or more of the validators. The XRPL has a feature called negative UNL that places validators into a UNL and excludes them from consensus if they go offline or their reliability is not high enough f.e. due to instability. In turn they get automatically removed from that list once they're in consensus again or go back online. &#x200B; Now obviously PoS and FBA are very different, not only in terms of design but how they achieve decentralization and consensus, but the outcome in terms of partial outage or insufficient reliability is similar some would consider it identical. The developers on the XRPL have found a solution to a problem the network has been facing, that's yet missing for Solana and shows that the network has a important area where it has to grow, f.e. Solana could either decentralize up to a point where a small part of missing or unreliable validators become irrelevant to achieving consensus or they could find a way by excluding/including unreliable or unreachable validators on demand.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

The entire point of Bitcoin is to remove trust from money. Of your own admission, XRP requires trust. Do you think any end users are really going to change the node list from the UNL. Doesn't ripple literally hold like 75% of all XRP?

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

It's up to each node owner to decide which other nodes to trust. Don't blame Ripple for providing information. Blame the node owners for listening to Ripple instead of doing their own research on which nodes are trustworthy and which aren't. Your issue with the UNL isn't Ripple's fault. And no, Ripple has never minted a single XRP. Do some research on the history of XRP before spouting fake news.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

They don't need to run the validators. That's the whole point of having a UNL. >you can't even tell me how the current banking system is centralized let alone how XRPL can help fix it. JFC, kid, settle down. You're spazzing out, randomly throwing shit at the wall. A complete stranger criticized your favorite centralized crypto money grab. Deal with it. People aren't going to buy your bags because you say you're smart; you'll need to win a substantive argument.

Mentions:#UNL#JFC
r/CryptoCurrencySee Comment

Cut your bullshit, shill. You can make your own UNL all you want, but it doesn't matter because the second your nodes deviate they'll be ignored. >that doesn't include a single Ripple validator You wish no one understood how XRP works. If it were true, you could get away with irrelevant arguments like that. You're not fooling anyone other than yourself.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

Nobody believes the UNL are independent of Ripple, and the fact that it works like that is obviously a problem. But great! Then the Ripple lawsuit is irrelevant to XRP! Who cares what happens! Ripple=/=XRP! >Your telling me multiple high-stakes teams did not do their due diligence when selecting a layer 1 to launch from, ridiculous. Apply that logic to every other chain.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

Your lack of understanding how the technology works is apparent. Ripple may run a small amount of nodes 5-6% but they do not control the UNL's there are multiple at this point published by other stakeholders that have nothing to do with Ripple. Condensing XRPL down to just Ripples involvement is as about as blind as you can get. There are Dozens of major projects several in the billions launching from XRPL that have nothing to do with Ripple. Your telling me multiple high-stakes teams did not do their due diligence when selecting a layer 1 to launch from, ridiculous. Ripplenet = \ = XRPL they are 2 different things with different code bases. One is private one is open source. XRPL is decentralized by every conceivable technical definition. Cryptographers that study blockchains deem XRPL to be decentralized.

Mentions:#UNL
r/CryptoCurrencySee Comment

Ripple controls less than 5% of validators, it takes 80% consensus 2 weeks to make changes. if you weren't aware changes negative UNL made the beginning of this year added a bunch of new un mapped validators as well as many new major projects using XRPL to launch. No one controls the consensus rules besides the validators just like other decentralized networks.

Mentions:#UNL
r/CryptoCurrencySee Comment

Centralization would mean Ripple would have to have at least 51% control of the ledger. Of all validators on the XRP ledger, Ripple runs only about 6%. So in an event, where the interests of the industry or the community, and that of Ripple’s, the validators can agree on a separate UNL to exclude Ripple altogether. A current state of the validators can be seen at https://minivalist.cinn.app/.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

A UNL is just a list of validators, it’s not some exclusive club, you select what validators you trust and that comprises a UNL. XLM is a fork of XRP so not sure where you’re getting the idea from it can’t be forked. Flare is also a fork.

Mentions:#UNL#XLM#XRP
r/CryptoCurrencySee Comment

>What it says is you’re free to choose your own UNL And if you choose a UNL who decides if you can join it? Can you fork? If you can't create a fork by yourself then it's not centralized. Anybody can make a fork of bitcoin because there is no central power prohibiting it. Try creating a fork and see what happens lol. > things like this that make crypto such a confusing environment for new investors, when clueless people like yourself are going around talking nonsense without even taking the time to educate yourself on the topic beforehand. Don’t be part of the problem Couldn't agree more myself LOL

Mentions:#UNL
r/CryptoCurrencySee Comment

I’m going to assume you can’t read, or won’t. What it says is you’re free to choose your own UNL, there are sources that publish recommended UNLs but you don’t have to go with them if you don’t wish. Make your own one if you like. I know this because I ran a validator for a year, I had to read through the documentation and understand how the network functions. You on the other hand haven’t even taken the time to read an FAQ. It’s things like this that make crypto such a confusing environment for new investors, when clueless people like yourself are going around talking nonsense without even taking the time to educate yourself on the topic beforehand. Don’t be part of the problem, if you don’t understand just be quiet.

Mentions:#UNL
r/CryptoCurrencySee Comment

Yea, go to your link and look under UNL then read those lol. Your own source says that not just anyone can create a node. Want to use your own words and explain why I'm wrong? All you've done is throw insults and provide a link which confirms what I'm saying about UNL and node operators. Not the best look

Mentions:#UNL
r/CryptoCurrencySee Comment

Nah, it's the same in 2021. Ripple hands picks the UNL. Nodes have to be accepted by the contrived company. If it were decentralized any jo blo could run a node and create a fork. That can't happen with Ripple because the company Ripple hand selects its node operators. So far, I've given an explanation action of Ripple and you have name called. Congratulations, making yourself look highly educated by saying other people are dumb instead of explaining why I'm "wrong"

Mentions:#UNL
r/CryptoCurrencySee Comment

Lol, XRP uses its own RPCA with around 1,000 nodes. 33 nodes must confirm a transaction. These nodes come from the UNL, or Unique Node List. Ripple hands picks the node list. Therefore, since the company picks the nodes which confirm transaction, it is centralized. Idk about you but if a company has to hand select its node operators, then I'm not a fan. If your average Joe can't make a node then it's not decentralized. I don't trust a company to pick what's best for me. Like many have pointed out, why are there no XRP forks? If it's decentralized than ONE fork would have happened by now. Note, not all forks are successful, there are 100s of BTC forks.

r/CryptoCurrencySee Comment

It's not centralized at all, its very decentralized and growing more so over time per the plan for decentralization. Its in phase 3 with negative UNL beginning of this year. Node requirements have come down a lot. No one entity has control of the network otherwise known as decentralized. Soon there will be amendments to change the escrow distribution possibly for defi with Aurei and or burn the escrow.

Mentions:#UNL
r/CryptoCurrencySee Comment

Firstly it's decentralized by every technical definition available. I.e. no central arbiter has control of the network. Ripple runs 4-6% of validators. Negative UNL changes beginning of this year onboarding new nodes over 1000 unmapped since it was launched. Ripple owning supply means absolutely nothing because it's not POS or POW. Ripple has access to about 12% of the total supply if you throw in every single account that has anything to do with Ripple or its employees. Just counting the actual escrow less than 5% which is less than some whales have on BTC. Validators could vote to burn the escrow there is a proposal to do just that. The escrow will be used for Defi an benefit the whole ecosystem trustlessly... You have no clue what you are talking about just another person that doesn't understand the technology

Mentions:#UNL#BTC
r/CryptoCurrencySee Comment

>The requirement for massive overlap BTC and ETH and almost all mmajor cryptos require overlap and agreement to function... who do you think makes sure block sizes stay the same? >users converge to relying on a common pool of trusted third parties. Re-read what I just said above. the same is true for BTC/ETH >That means there is a central set of nodes that hold enormous influence over XRP consensus except they dont because you still dont understand how consensus is reached.... I havnt even bothered to touch on the other point of ur garbage FUD article which boils down to, Because Ripple made a lot of money in 1 year, they must be buying bots/shills because who else would... like come up with actual evidence and support the argument with facts, not open ended nonsense. >The majority of these nodes can be coerced into agreeing to restrictions imposed by a powerful nation state No they cant because no one validator has power over any other validator, and since anyone can make and publish any UNL they want.... lol. >because they need to be well known parties by the design of the consensus protocol there are several Validators on the network right now that are not known at all. Stop making stuff up, go read how consensus is reached, learn about how overlap works when you have multiple UNLs. then come back and talk. read this thread, maybe ull learn something https://twitter.com/hammertoe/status/1085563428389994498?lang=en

r/CryptoCurrencySee Comment

>As for the UNL, Ripple doesn't work without 100% agreement between nodes on the trusted third party validators. which is acheived via overlap... each UNL is its own resistance cell within the network, which has members of many groups relaying voting/timing/data/decisions during consensus... Again, I love someone who doesnt understand talking out their ass. >That means the governing structure is susceptible to takeover and/or total disruption. lol, no it doesnt...holy crap you're a moron. > It doesn't have a consensus algorithm. potato IQ

Mentions:#UNL
r/CryptoCurrencySee Comment

People can see the evidence provided by the article and decide for themselves and decide if Ripple had a shill army. I'm confident anyone but a Ripple shill would agree they did. As for UNL, Ripple doesn't work without 100% agreement on the trusted third party validators. That means the governing structure is susceptible to takeover and/or total disruption. It doesn't have a consensus algorithm.

Mentions:#UNL
r/CryptoCurrencySee Comment

No, it is not based entirely on if someone has XRP in their name. People can read the article for themselves to verify that you are lying. Naturally, a paid shill operation like XRP, whose advocates long argued FOR totalitarian government control to suppress competitors - before that same regulatory apparatus came down on them - and even paid to have former Federal Reserve Ben Bernanke speak at their event, will hate a true decentralized platform like Ethereum. Ripple is such a joke of a project, that if your Unique Node List, which is the set of trusted third parties your node trusts by default, doesn't overlap nearly completely with every other nodes', you risk forking off the network, necessitating that every one use the UNL that Ripple Labs recommends.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

There are multiple UNL's from different stakeholders with a max of 30-40% overlap. You can setup your own UNL and completely exclude all Ripples validators an you can still sign an submit transactions with no problems. The UNL is NOT selected by Ripple it is hardcoded. If your node meets the requirements uptime, liveness, agreements, kyc etc. it's added to the quorum over time.

Mentions:#UNL
r/CryptoCurrencySee Comment

Most operators are irrelevant. The number of unaffiliated nodes don't determine decentralization on xrpl either. You know that. Ripple controls the UNL and those are the only nodes that matter. All the decentralized nodes do is replicate that, and if they don't, then their contributions are ignored. Cringy is bag holders lying to people through omission. Ripple, and their compadres, control the supply and the network for no reason other than they have no intention of relinquishing power. An argument for some of that can be made in the early stages, but it can't be justified anymore. That's why you all carefully dance around the facts with misleading half truths. It's not coincidence that the SEC isn't attacking Stellar. You don't want to admit it.

Mentions:#UNL
r/CryptoCurrencySee Comment

I'm also referring to stuff like the UNL, the blurry relationship between Ripple Labs and Ripplepay and the issuance of XRP, etc. Trying to say Ethereum is more a security than Ripple always boils down to semantics, both parties will nitpick different parts when both have elements of centralization.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

* XRP ledger is **largely centralized**. 100 billion XRP is pre-mined out of which 20 billion is held by Ripple founders, Ripple Labs hold 7 billion XRP, and 20 billion XRP is sold to companies and individuals. The remaining 53 billion is sealed in a smart contract that releases 1 billion XRP into Ripple Labs hands each month until all of the 100 billion XRP cap will be reached. But that doesn’t change the fact that they own the majority of the coins! This clearly doesn’t look like decentralization to me. &#x200B; * Once Ripple protocol is published Ripple Labs has no control over it according to the website (not really ). Almost every UNL node in the system is either Ripple's own node or allowed to be part of the network by Ripple at some time earlier. So Ripple has **control over the validators** as well. So once again it shows XRP is under Ripple directly. The validators have less importance. &#x200B; * The SEC sued Ripple for seven years of distributions of XRP which the agency labeled as illegal unregistered securities trades. The resolution of the case will likely occur in early 2022. Each day the lawsuit goes unresolved is harmful to Ripple.The value of XRP has dropped considerably. If SEC wins the case **XRP will lose its value drastically**; Ripple's partners will probably stop using their ODL that utilizes XRP to transfer funds and provide liquidity.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

>If you see any comments from me that are 5 months old, that aren't in my own post, that means I missed them Theres around ~100 that youve "missed" >XRP picks the only validators that matter. XRP doesnt pick validators.. each UNL is its own resistance group of sorts that "ripples" its decision through the network of other validators via overlap and several rounds of voting which occur in milliseconds. >You don't have to directly use them, as long as you agree with them. The only thing a bad actor can do with the network is disagree due to how the voting process occurs. there are rounds of voting, the XRPL doesnt care the order of transactions only that at most it only approves 1 out of the 2 transactions and that is confirms that a transaction occurred. I find it hilarious that your argument about UNL's gorssly still misunderstands how consensus is reached on the network.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

>I always delete my comments outside of my posts which is why you have comments going back roughly 5 months ago yet you specifically delete the comments I linked too from 4 months ago.. I guess you forgot to delete the rest of your comments for the last 5 months and decided to delete that 1 specific conversation? lol >and you always start off your rebuttal with that fact. Because you keep saying stuff, get proven wrong then delete our SPECIFIC conversations yet your other comments remain.... almost as if you know your wrong and cant stand up for your own words... >The XRP network was premined Token* not network. > it's distribution and leadership is sketchy Because of unspeficic unknown reasons claimed by you... got it. > and the network is controlled by the validators ripple selects. You arent required to use the Default UNL and can remain in consensus while running 0% of Ripples validators. Not sure why you keep choosing to not read this https://xrpl.org/intro-to-consensus.html >But the only thing that really makes XRP unique now is its ties to banks and its complete disinterest in becoming decentralized. Yeah who wants streaming micro payments paid live to the second. Id rather have to monetize my content by getting sponsors or waiting 2 weeks for my paycheck instead of getting paid live by the second..... You think Ripple is the only company that has or is developing use cases for XRP? Also, The longer time has gone on, the MORE decentralized the XRPl has become and that trend has continued for roughly the last 6-7 years at this point. Go look at who ran the most validators 6 years ago, then bring it forward by anytime frame you want, 1 year, 1 month 1 week. The # of validators controlled by the largest operator has shrunk and continues to do so. > If it was decentralized, then the SEC suit would be irrelevant. The SEC is suing the Company Ripple. not XRP. This is no different than if the SEC sued Blockstream, ETh foundation, IOHK etc.... Just because a company exsists, doesnt mean the network isnt decentralized... you need to learn what words mean. >You had no real rebuttal of those facts then, LOL, yes I do, they simply arent facts and show you dont even understand what you're talking about... >and I'm sure you don't now. I love how confidently wrong you are. its almost admirable. >You just move the goal post and blabber about how right you are. I asked you to provide evidence for your claims, you still have none. I then told you how the network functions, who runs which validators and provided you sources which backup my claims.... Should I link it to you again? > You must have some heavy bags, probably hoping to return to 2017 prices so you can break even. I love how you assume im Down somehow? lol. If you look at my post history ive said publicly when I bought in 2016 and when I sold in 2018 (jan 3rd) as well as my DCA strategy... I havnt had to work a day since.

Mentions:#XRP#UNL#LOL
r/CryptoCurrencySee Comment

I didn't need to, as i was saying to you 100 wallets has 65% of the supplies. That's centralized enough. But if you want to go deeper take a look at how their network is working. Everything rely on the UNL, there is 40 of them, hand-picked by ripple Labs. That's the same shit as Solana Master Node, you can't acheive that tx speed without a centralized coordinator. Here is the list of thoses centralized nodes (with the small blue star) : https://xrpscan.com/validators As long as thoses nodes are permissioned, XRP will be the currency of a centralized network.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

😂 >As described in the original whitepaper [10], the minimum overlap requirement was originally believed to be roughly 20% of the UNL. An independent analysis later suggested the correct bound was instead roughly > 40% [1]. **Given this confusion, our goal in this work is to give a clear and detailed explanation of XRP LCP and derive the necessary conditions on UNL overlap for consistency and liveness...We re-evaluate the two prior overlap results and provide a single corrected bound which is partway between the bounds of [10] and [1]. We also show that under a more general fault model which was not considered in the original whitepaper but is canonically used in the research literature, the minimum overlap is actually roughly > 90% of the UNL.** For secondary highlighting "**We also show that under a more general fault model which was not considered in the original whitepaper but is canonically used in the research literature**" You are truly something else.

Mentions:#UNL#XRP#LCP
r/CryptoCurrencySee Comment

Read the fucking paper you keep citing. Fault tolerance is as low as 40% in real world independent study citation (1). Ethan Macbrough uses a more fault-prone network to devise the study page 2. In the conclusion xrp lcp is safe before it matures and 90% overlap requirement in the paper is with the assumption of a single expanding UNL. There's more than one UNL. The paper is using hypothetical tolerances for safety for research purposes that you seem bent on misconstruing to throw shade at XRP.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

You keep repeating nonsense it doesnt require 90%. Analysis of the XRP Ledger Consensus Protocol Brad Chase, Ethan MacBrough ”90% agreement on participants is needed to ensure network safety. _In the restricted case of a single expanding UNL" ... You keep repeating this paper as factual when it was done with a assumed more fault-prone network and a single UNL which both not present in the real world. Where it functions as low as 40% also cited in that paper (1). And there s more than 1 UNL donkey. Theres several UNL's published by other participants which i have pointed out to you.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

>Its called conceding a point to try an have a conversation instead of an argument like you seem to be doing. Lol you opened your comments by saying I'm pushing baseless information, you've told me to "post sources or shut the fuck up" but I'm the one arguing rather than an open discussion. Who exactly is conceding a point? You told me my claims were baseless while not refuting a single one. >Evernode is native smart contracts. It doesn't exist. What is your point? I don't know what this has to do with the conversation. >The required overlap is far less than 90% an easily checked by comparing the multiple UNL's published by xrpl participants against Ripple's. So what is it. What's their overlap. Wheres the paper? >u/R4id runs 0 of the reccommended UNL to prove a point an only needs 41% overlap to continue to produce winning ledgers. That's not the point of a fault tolerance. Fault tolerance isnt stating X most occur or everything breaks. It's a threshold that should be met as a total network to maintain a certain level of safety guarantee. These are all well studied academic mysteries measures. Ethan discusses all this in detail in his paper. Regardless if things have changed what you're providing is not energy-free l evidence. >Even with the lawsuit and a ton of them delisting xrp. Xlm has 86 to XRP's 118 where it was 386. XRP has +3x the adoption of XLM smartass. Please repeat in english and let me know what your trying to refute lol.

Mentions:#UNL#XRP#XLM
r/CryptoCurrencySee Comment

Its called conceding a point to try an have a conversation instead of an argument like you seem to be doing. Evernode is native smart contracts. The required overlap is far less than 90% an easily checked by comparing the multiple UNL's published by xrpl participants against Ripple's. u/R4id runs 0 of the reccommended UNL to prove a point an only needs 41% overlap to continue to produce winning ledgers. Which has probably mich improved because weve entered into stage 3 XRPL decentralization. Xlm has mich less adoption than XRP compare toy functional exchanges. Even with the lawsuit and a ton of them delisting xrp. Xlm has 86 to XRP's 118 where it was 386. XRP has +3x the adoption of XLM smartass.

Mentions:#UNL#XRP#XLM
r/CryptoCurrencySee Comment

>Hooks are in functional beta on testnet available to the public so this would directly refute your assertion that it doesnt exist Lol seriously? I said they are building them. **They don't exist on the XRPL**. Clearly the focus of this convo. Public testnets are not the blockchain. >Flare EVM is integrated directly with xrpl. XLM will be an integrated f-asset an get the same benefits but not the airdrops or testnet. This doesn't refute anything I've said. What's your point? >Evernode is launching full smart contracts natively on the XRPL. This doesn't refute anything I've said. It doesn't exist and he openly stated that it may never and it was a way too early idea all relying on what comes of Hooks. Regardless this will likely be a L2 architecture, I wouldn't call that native to the xrpl. I didn't even mention Stellars l2 smart contracts for a reason. Again, what's even your point? >The improvements he is talking about were made in 2021 with a road map for more, so 70% . told you last time the state of the network is always improving. My man, like I said last time **I'm explicitly talking about the required overlap**. I think that's like attempt 3 in multiple threads to point that out. The required overlap is not the same as forward progress when nodes go down. I already spoke on the negative UNL which is fundamentally different than quorem intersection. >XLM and XRP are nearly identical if you say one is centralized so is the other. Do you, like, not even attempt to comprehend what I say? Saying something is decentralized or centralized is purely subjective, its not black and white. I'm not even making those statements, I'm just providing facts differentiating the systems. >If XLM is so much better with fault tolerance then why did it crash in 2019 for 67 min? Whereas XRPL has been running stable for almost a decade. Less adoption. Lol. Simpleton questions only require simple answers. You've, again, refuted absolutely nothing I've stated but rather just continue to carry your internet baggage around to all your comments.

Mentions:#XLM#UNL#XRP
r/CryptoCurrencySee Comment

Nope they aren’t, there aren’t recommended nodes, each user can pick their own UNL.

Mentions:#UNL
r/CryptoCurrencySee Comment

You are terrible at making arguments lol. The fault tolerance doesn't mean the network can't move forward. It's based on commonly accepted safety thresholds. It quite clear to me this entire conversation has gone over your head. The amount of required UNL overlap has nothing to do with how many nodes can go offline. You can still have complete overlap and also have 20% go offline. Guy just posts a link to an entire paper with no context lol.

Mentions:#UNL
r/CryptoCurrencySee Comment

https://arxiv.org/abs/1802.07242. *"Analysis of the XRP Ledger Consensus Protocol"*, by Ethan McBorough, former Ripple Lead Engineer: >As described in the original whitepaper [10], the minimum overlap requirement was originally believed to be roughly 20% of the UNL... We also show that under a more general fault model which was not considered in the original whitepaper but is canonically used in the research literature, **the minimum overlap is actually roughly > 90% of the UNL.** Lol >Post it or shut the fuck up. Your turn cutie.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

"Prior" lead engineer , if its before january of this year then there's no argument you are wrong. The UNL was updated in January of this year. The state of the ledger today is always changing.

Mentions:#UNL
r/CryptoCurrencySee Comment

Its 80% and its been shown several times that there is enough over lap between the other UNL's that are published by other participants. Ripple doesn't control the XRPL or the validator list. It is a decentralized network, it was not always the case in the way Ripple chose to develop it but it is now. An saying otherwise is dishonest.

Mentions:#UNL
r/CryptoCurrencySee Comment

Except that the UNL is completely optional. It's been shown numerous times that there's sufficient overlap without using those nodes.

Mentions:#UNL
r/CryptoCurrencySee Comment

Actually 60% in the hands of founders now, still ridiculously high since it was pre-mined. And Ripple controls the nodes by having executive control over the Unique Node List (UNL), with selects the finalized 33 nodes that complete the transactions.

Mentions:#UNL
r/CryptoCurrencySee Comment

yeah, but node network organized in way that nodes from "alternative" UNL still depend on what those 33 decide xrp is a joke of a cryptocurrency

Mentions:#UNL
r/CryptoCurrencySee Comment

Like 2-4 last time i checked with their goal being 1 soon. The negative UNL changes made January of this year will allow at home computers to be nodes an push active nodes into the thousands and they wont be hosted on AWS like Eth.

Mentions:#UNL
r/CryptoCurrencySee Comment

You are in fact a moron, there are several other UNL's published by other participants on the ledger. 👍 🤡

Mentions:#UNL
r/CryptoCurrencySee Comment

Thanks, I just informed myself. It's in fact centralized. [https://cryptobriefing.com/is-xrp-decentralized-ripples-involvement-cryptocurrency/](https://cryptobriefing.com/is-xrp-decentralized-ripples-involvement-cryptocurrency/) "Out of nearly 1,000 nodes, a group of 33 are selected by the whole group to finalize transactions. This smaller group is called the “Unique Node List,” or UNL. When 80% of these 33 come to an agreement, a transaction is finalized. But here’s where the problem arises⁠—Ripple, the company, selects the default Unique Node List."

Mentions:#UNL
r/CryptoCurrencySee Comment

Betting on XRP is betting on the cryptocurrency experiment failing. It's trying to be a remittance coin between fiat currencies. In a future where crypto succeeds on a global scale, Ripple & XRP is completely redundant. It's the anti-thesis to Bitcoin (and crypto*currency*) in almost every way. Every XRP holder who also hold other crypto should think long and hard about this. What do you actually wish to happen? What does the future look like? Do you still want to be reliant on banks for international transfers? Some say that XRP can also be used as a global currency like many of the others. This, in my opinion, is completely delusional for several reasons: 1. The (for-profit) company behind XRP currently holds over half of the **entire worlds supply** of the "currency". All of which was issued by them for free. Imagine if it was Google or Facebook that held over half of all money in the world which they got for free. Would you cheer them on? 2. Currently XRP has an **inflation rate of 18.79%**. Personally, I would much rather have the 2-3% inflation rate of fiat, but maybe I'm crazy. 3. It's Proof-of-Authority, which is inherently a **trust-based** system and **centralized**. In the case of XRP this manifests itself in the form of the UNL of centrally approved nodes. XRP fans will say it is not centralized since anyone can choose their own validator, but this is extremely misleading. There needs to be a **90% validator overlap** at all times, otherwise the network stops working completely. In practice, almost nobody deviates from the UNL and Ripple thus controls which validators matter, and which don't. If you are running a XRP node and are not on the list you don't matter. Obviously this much power over the nodes is extremely susceptible to government pressure or corporate profits over ethics. 4. Very shady initial distribution, as evident by the on-going trial. In my book this disqualifies XRP as a world currency even if Ripple is found not guilty. A world currency should have the most fair distribution possible. 5. Not even *Ripple themselves* claims XRP is a payment currency. Probably for the above reasons. If it was trying to be it would probably have completely different characteristics. So when people say XRP has good fundamentals, I really wonder which fundamentals they are talking about. Not the same fundamentals that I consider important at least. This will undoubtedly get downvoted by the XRP army, but I don't care. There are many new users on this sub and they need to be aware of this.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

Do you understand how consensus is reached on the network? You are not required to Follow Ripple's UNL. https://xrpl.org/intro-to-consensus.html Anyone can publish their own UNL publicly or keep it private and choose who to add or remove. Please stop spreading FUD and learn

Mentions:#UNL#FUD
r/CryptoCurrencySee Comment

1. XRP ledger is **largely centralized**. 100 billion XRP is pre-mined out of which 20 billion is held by Ripple founders, Ripple Labs hold 7 billion XRP, and 20 billion XRP is sold to companies and individuals. The remaining 53 billion is sealed in a smart contract that releases 1 billion XRP into Ripple Labs hands each month until all of the 100 billion XRP cap will be reached. But that doesn’t change the fact that they own the majority of the coins! This clearly doesn’t look like decentralization to me. 2. Once Ripple protocol is published Ripple Labs has no control over it according to the website (not really ). Almost every UNL node in the system is either Ripple's own node or allowed to be part of the network by Ripple at some time earlier. So Ripple has **control over the validators** as well. So once again it shows XRP is under Ripple directly. The validators have less importance. 3. The SEC sued Ripple for seven years of distributions of XRP which the agency labeled as illegal unregistered securities trades. The resolution of the case will likely occur in early 2022. Each day the lawsuit goes unresolved is harmful to Ripple. The value of XRP has dropped considerably. If SEC wins the case **XRP will lose its value drastically**; Ripple's partners will probably stop using their ODL that utilizes XRP to transfer funds and provide liquidity.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

Which is correct. but what a key peice of information you're not understanding/missing is that Anyone can Create any UNL they want. Anyone can choose to follow anyone elses published UNL or make their own. You need to learn how consensus is reached on the network, Id recommend starting here to read https://xrpl.org/consensus.html

Mentions:#UNL
r/CryptoCurrencySee Comment

No from the article: https://ripple.com/insights/xrp-ledger-decentralizes-expansion-55-validator-nodes/ "While Bitcoin chooses validators solely on mining power, XRP Ledger validators are chosen based on performance, reliability, and security. This includes assessing a possible UNL against the following criteria:"

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

Great overall write up, however XRP is not centralized and the SEC isn’t after XRP. It’s only after Ripple, the private company, and their sales of XRP. They said that exchanges and other entities utilizing and trading XRP are fine. Every gateway (wallet, exchange, etc.) is responsible for curating their own Unique Node List (UNL). The UNL defines which nodes you trust to validate transactions. Unlike POW/POS there is no mining or staking which makes the validation process extremely simple and straight forward resulting in fast and cheap transactions. The misconception that the XRP Ledger is centralized comes from two main fronts: 1) Ripple has a big chunk of XRP 2) Lack of understanding how the ledger actually works To address 1; having a lot of the supply does not make the ledger centralized. The XRPL is NOT a PoS system where staking gives you some level of control. It absolutely does not matter whether you have 1 XRP or 1,000,000,000 XRP. No one has any influence over the network.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

>Sometimes I assume things are common sense. Even Ripple academic papers refer to it as the UNL. I also assumed it was common sense that decentralization is in regards to the actual state of consensus, not just some arbitrary list of nodes that may not be part of any meaningful consensus validation. If you can't see the difference between the following two statements "I think its more like 25% of UNL nodes though" and "I think its more like 25% of dUNL validators though" Then feel free to continue to be snarky and incorrect, the choice is yours. >You alone in isolation isn't really the point. Obviously what matters is the generalized fault tolerance for the network as a whole. If you understand this then why are you insulating that my experimentation with thresholds is putting the network as risk. You seem to always want it both ways.

Mentions:#UNL
r/CryptoCurrencySee Comment

>it isnt and maybe use the correct terms then? Sometimes I assume things are common sense. Even Ripple academic papers refer to it as *the* UNL. I also assumed it was common sense that decentralization is in regards to the actual state of consensus, not just some arbitrary list of nodes that may not be part of any meaningful consensus validation. >Depending on certain consistency and liveness conditions this is and isnt true, the OG whitepaper from 2013 (XRP LCP) by shwartz discusses 1/5th or 20% overlap and IIRC there were some papers in 2015 maybe 2016 testing this theory and coming to the conclusion of depending on requirements 2/5 or 40% overlap is sufficient. The OG paper but basically stated to be incorrect. Beyond that, the paper written by Ethan clearly stated that it was using metrics canonically accepted by academic research. >Me a single validator doing this has no affect on the greater health of the network. You alone in isolation isn't really the point. Obviously what matters is the generalized fault tolerance for the network as a whole.

r/CryptoCurrencySee Comment

>Of course I'm referring to the dUNL, because that's practically all of consensus. it isnt and maybe use the correct terms then? because otherwise I have to guess at what you're trying to saying and it muddies the waters of this discussion. >Technically, the XRPL requires more than 90% overlap in all trusted nodes. Depending on certain consistency and liveness conditions this is and isnt true, the OG whitepaper from 2013 (XRP LCP) by shwartz discusses 1/5th or 20% overlap and IIRC there were some papers in 2015 maybe 2016 testing this theory and coming to the conclusion of depending on requirements 2/5 or 40% overlap is sufficient. Im well aware of Ripples own Documents claiming 90% but this again is under different consistency and liveness conditions. In general from my experience Ive found the 41% overlap is all I have required in order to maintain consensus, otherwise I start forking and making "testnets" by myself essentially. > So I'd hope you're not straying from the UNL, even a minor deviation puts the network at risk. Me a single validator doing this has no affect on the greater health of the network.

r/CryptoCurrencySee Comment

Of course I'm referring to the dUNL, because that's all of consensus. >again if you understand how consensus is reached on the XRPL, you should know that You are not required to run the dUNL Technically, the XRPL requires more than 90% overlap in all trusted nodes. This has been published by Ripples own research dpt. So I'd hope you're not straying from the UNL, even a minor deviation puts the network at risk.

Mentions:#UNL
r/CryptoCurrencySee Comment

Ripple runs 3-5% of all total validators, they do not run 25% of UNL nodes (which would be called validators) they run 6 out of 120 atm (which is 5%) https://bithomp.com/validators If you are talking about the dUNL (default Unique Node List) they run 6 out of 40 ish or 15% but again if you understand how consensus is reached on the XRPL, you should know that You are not required to run the dUNL and many people (myself included) Have a UNL which contain Zero of the Ripple validators in it, but remain in consensus due to how overlap functions.

Mentions:#UNL
r/CryptoCurrencySee Comment

I think its more like 25% of UNL nodes though, which is all that really matters

Mentions:#UNL
r/CryptoCurrencySee Comment

You can indeed create thousands of nodes and add each of them to each others UNL. The problem is you need to get them all on OTHER peoples UNL because that is how the network functions. Other people have to give you power and the only way to earn that is to do good work. So it becomes a sort of long con where you need to earn other peoples trust by being a good validator for a long period of time in order to get added. Now lets say you get that far after a few years and are ready to pounce. The problem ull find is that there is still no way to double spent within the system. AT most you could Halt the network by disagreeing with consensus. The problem with this is that Others can see how you're voting and only bad actors are disagreeing, XRP doesnt care about the order of trasactions like in BTC, it cares that everyone agrees that A trasaction happened (because the order is derived from that instead) IE you cant vote No in round 2 of voting claiming to not of seen a transaction then in round 3 vote no AGAIN because you clearly saw it in round 5. (this all happens in miliseconds) As a validator if I see one of my 12 is constantly voting no, I know they are attempting to be a bad actor and I just remove them by changing a 1 to a 0. So years of Hard work earning my trust are burned in an instant for no gain on the attacking party. There have been attack attempts in the past and all they have succeeded in doing is burning a lot of their own XRP for no actual gain.

Mentions:#UNL#XRP#BTC
r/CryptoCurrencySee Comment

If you distrust Ripple so much you can create your own UNL list and work off that. There is absolutely nothing forcing you to use their UNL list. Or nothing stopping you from creating your own UNL trusted list and publishing that.

Mentions:#UNL
r/CryptoCurrencySee Comment

All of the UNL validators are essentially selected by Ripple and Ripple essentially controls the supply that goes into circulation

Mentions:#UNL
r/CryptoCurrencySee Comment

Are you saying I could get on the “trusted” validator UNL list today if I had the hardware and wanted to? If yes, then what you’re saying is true. If no, then the network isn’t decentralized (censorship resistant, trustless, permissionless).

Mentions:#UNL
r/CryptoCurrencySee Comment

My mistake, it’s been awhile since I’ve had “the ripple talk” From what I know, yes it’s not that Ripple own the majority of the nodes, but they choose which ones end of validating transactions. XRP uses its own RPCA (Ripple Protocol Consensus Algorithm) and has roughly 1000+ nodes. 33 nodes must finalize the transactions (the code refers to it as UNL, Unique Node List) Ripple, the company, hand selects the Unique Node List. They pick and choose who can oversee transactions. Sounds pretty centralized.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

> but it isn't by any means in control of the network. Ripple, the company, literally picks and chooses the validators among running nodes (the UNL), and they are the only ones able to do this, nodes are also running without any financial incentive (even if they are chosen in the UNL). And if this wasn't enough centralization, Ripple owns a majority of the supply of its coin which was *pre-mined* by them when XRP was created, directly and in "reserves" they periodically sell.

Mentions:#UNL#XRP
r/CryptoCurrencySee Comment

Nope, just think about it, the XRP Ledger requires 80% consensus to validate a transaction, if everyone had the same list and 20% of those validators would go offline for some reason the whole Network would stop. Now ofc you can use Ripples Unique Node List, but there are alternative UNL's from [coil.com](https://coil.com), or the XRP Ledger Foundation. You could also setup your own validator and use a UNL that you maintain and select the Validator Nodes yourself.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

>What's the Hash rate of XRP? O right there isn't one because its not a cryptocurrency. lol, man you are just digging a bigger hole arent ya. no where in any definition is hashrate a requirement for something to be a crypto... thats like saying trying to claim that that any car with a straight 6 instead of a v6 isnt a car... its utter buffoonery. >None of what you said doesn't apply to traditional banking or Finance. Do banks use ledgers and cryptography/encryption to secure transactions? Yes they do. But that doesn't make them a cryptocurrency. did I say it did? >And how is control over creation an argument for it being a cryptocurrency when it was 100% Premined? Because unlike cryptos like lets say Fiat... there are networks you can opt into which will hold or stay to those rules in fiat... this is one of the benefits of crypto. >And imo, decentralization means nothing if it is not trustless and permissionless. And XRP still relies on trusted validators. XRP is permisionless and is more trustless than BTC... You dont have to trust any Single validator as you are allowed to pick your own UNL. you would have to pick people who have some motive outside the network to coherse the people you picked into specifically colluding against you for 2 weeks without you noticing.... Every flag ledger you can see their votes, so if people do things you dont like, you can remove them... Meanwhile in BTC's "trustless" system. a 3rd party has a direct incentive to collude against you and is financially compensated for doing so. If miners want to make your BTC unspendable, they can. Their wants and needs are on a never ending divergence from you...

Mentions:#XRP#BTC#UNL
r/CryptoCurrencySee Comment

> It's not decentralized because nodes still need to be validated. if you dont know what you're talking about... you should not be talking. What you just said, makes no sense in any context.... Please learn how consensus is reached then come back to the discussion. https://xrpl.org/intro-to-consensus.html > It still isn't trustless XRP is more trustless than BTC, you dont have to trust any 1 specific validator... you only have to trust that your own UNL configuration is diverse enough so the rest of the UNL wont specifically collude together against you (for 2 weeks). It is based solely on the decisions made by the person who runs their own node. Meanwhile BTC is much less trustless... and unlike with BTC, XRP doesnt have a system which can coerce stakeholders. PoW forces users to work with unchangeable stakeholders whos interests are on a never ending divergence from their own. Yet people claim BTC is trustless even tho miners can make your BTC unspendable ... its a joke. >nor is it fully permissionless. No one can stop you from running a node, validator, spending XRP, buying XRP... it is completely permisionless. you need to read more. > And the supply is still centrally controlled by an "escrow". Supply isnt "controlled" by anyone other than the code. If I locked up my BTC into an escrow, do I now Centrally control BTCs supply? the answer is no because that is an equally ludicrous statement as yours is. A 3rd party locking up their own funds which have existed on the ledger since 2012, are not new coins and are not increasing supply at all.

Mentions:#XRP#BTC#UNL
r/CryptoCurrencySee Comment

A waste of effort an a sad attempt at Fud. The negative UNL updates beginning of this year allow for asynchronous nodes on the network, with continuing on negative UNL. You can't "tamper" with the UNL that is published. Ledger validators don't blindly follow the UNL they make up the UNL donkey. RCP is a synchronous network there is no tampering with it. You can't just be like hey look at my malicious validators because your node would immediately be pruned and never make it to validator level.

Mentions:#UNL
r/CryptoCurrencySee Comment

Or...if Ripple goes public, a billionaire could just force a hostile takeover of the company. In doing so, they would have access to 1 billion XRP per month and the UNL publication. Thus the conflict of having a for-profit in control of a networks assets and development.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

What is your source for Bitcoin specifically being designed to persist in the face of nation-state attacks? I know the trustless, irreversible tx model is quite popular with anyone who doesn't like the current financial structure, so I feel like sentiments from early advocates are bleeding in here. What you're pointing out about Ripple/XRP is something I honestly don't think is a detriment, and doesn't make it centralized. I honestly don't think many other coins are more immune like you claim. For XRP you need 80% of the UNL to agree to push forward any changes, and Ripple runs less than 4% of the validators. Sure all the entities running validators are known, but if I just want a better/cheaper/faster banking system, this is a feature that will lead to faster adoption. We're both speaking English, but do we have radically different definitions of decentralized?

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

He says XRP is not decentralized. That's false. He cites one reason for that is Ripple has a recommended UNL. You can pick your own if you want. He says the dollar is more stable than XRP. Over the time frames that it takes for XRP to settle vs the dollar, XRP is actually mathematically more stable. He doesn't know wtf he's talking about. He makes assumptions and doesn't even understand the basic function of XRP. He talks very confidently, so I can see why so many people buy into his bullshit. But I'm a lot more intelligent than he is, I can assure you, and I am putting my money where my mouth is and will let my investment speak for itself. The more people who don't understand XRP early on, the more money I will make, so I mind all THAT much.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

The video that has an almost 50% dislike ratio? or how the top like 50 comments are pointing out the misinformation he is spreading? how about his twitter thread where he gets told what he is saying that is incorrect. https://twitter.com/andreijikh/status/1398806486894088192 or how about his own written response to a response video someone to show him what he is incorrect about? https://www.youtube.com/watch?v=7ITVI8gyito >"Thanks for the video response, and thank you for taking the time to make it. I learned a few new things about Ripple and XRP. I still have a few concerns: I don't doubt that Ripple has incredible technology and it would succeed if it went public but I'm not seeing how it ties into XRP as a NECESSITY. Is it a necessity? Or is it a bonus? Also, as far as decentralization goes, correct me if I'm wrong but doesn't Ripple select their coordinator nodes? The UNL (unique node list) is selected by Ripple - no? If not, my apologies! While I don't doubt they will eventually remove themselves from that node selection process - it seems the whole crypto industry is full of promises. Also from my understanding bridge currencies are technically " -Andrei Jekh If you're taking crypto advice from a guy who Cant even figure out ODL = XRP transactions or that Anyone can make their own UNL then you're completely lost... the guy did The bare minimum level of reserach to make his video and it blew up in his face because he got a bunch of stuff wrong... I wouldnt do anything he says. >What he says makes sense. People would rather use stable coins using the ripple technology than XRP itself. So invest in Ripple if you are a VC but stay away from XRP. to answer your question. Stable coins were invented on the XRPL Dex back in 2013. You can use them today if you want, but you arent solving the same problem XRP is. You are only digitizing the same issue the current system has (which is nostro/vostro accounts) You need a geopolitically neutral asset that can provide the liquidity you require into the currency you need on demand... Stablecoins Dont solve the 27Trillion dollar problem, they make it worse.

Mentions:#XRP#UNL
r/CryptoCurrencySee Comment

Another recap. But, it's a sad one. For they have taken our power to post gifs! * The daily doesn't even reach 21k comments. * The market cap falls back down to 1.58t * Bitcoin loses the least in the top 10, still above 36k * BNB loses 6.66% and is thereby the biggest and most evil top 10 loser, having fallen below 350. * ICP bumps itself down another 20% to below 65. F to ICP hodlers. * AMP is one of the few green ones with a solid 15% gains. * Many questions arise about whether AMP is worthy of throwing money into. * ICP is the hot topic of failure. * Anger over the lack of gifs rises. * Boredom is one of the top complaints as the market continues to crab. * Jokes about volcanos are too damn many. * In the top 100, little is green. AMP with 15% and CHZ with 10% the biggest by far. * Unsurprisingly, ICP is the biggest loser with over 20% loss, with RUNE coming in second place with 11% loss and BAKE with 10% loss. * In the top 500, HARD wins with a hard 85%, followed by DATA with 50%. * BDX loses the most with 38%. Newbie ATA loses another 19%. * UNL, obviously not in the top 500, loses ... 99.99% * Some of the recently added names to cg/cmc... BOGE, KETCHUP, KAREN and *drumroll* ... SafeBreastInu... * The volume falls to 101b with nothing of interest going on. * The mental image of the day is a melting clown's face.