The Ripple Effect: Two Companies Fire Up XRP Validators in Push for Decentralization
Two crypto companies are spinning up XRP validators to boost the network and further decentralize the third-largest crypto asset by market cap.
Validators crunch the numbers to determine if transactions meet protocol requirements, allowing them to either be accepted or rejected by the network in an effort to prevent abuse and double-spending.
The Canadian crypto exchange CoinField says it has one node up and running and plans to spin up more in the coming months.
— CoinField (@CoinFieldEX) July 31, 2019
Coinfield is a dedicated supporter of XRP and uses the digital asset as a base pair on its exchange, with 30 coins now paired directly with XRP.
After CoinField’s announcement, the online rental marketplace Omni revealed it also has a validator online.
“Today Omni went live with our $XRP Validator. At @omni we believe in a sustainable economy of access, it’s clear that this is one of the best possible ways to help sustain the XRP ecosystem. Excited to contribute to the community.”
Omni is a Ripple partner and was one of the first to earn an investment from Ripple’s fundraising arm Xpring.
The latest numbers show 31 UNL validators up and running, seven of which are run by Ripple itself.
Ripple maintains a unique node list (UNL) of trusted validators that it has determined are the most reliable. The company says it eventually plans to remove itself from the process of determining which validators are on the list.