XRP Hits Crypto Milestone: 79% of Top-Tier Validators Not Run by Ripple
Ripple and XRP fans are cheering a decentralization milestone for the XRP Ledger.
Ripple’s list of trusted validators has been updated, showing 79% of the nodes on the list are not run by the San Francisco-based startup.
According to the latest numbers, seven of the 34 UNL validators on the network are owned by Ripple.
Validators do the math to determine whether transactions are valid, allowing them to either be accepted or rejected by the network in an effort to prevent abuse and double-spending.
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.
The Canadian crypto exchange CoinField is the latest to launch a UNL validator.
The company says it’s working on a secret project to help boost adoption of XRP. It plans to unveil the project in November at the Malta Blockchain Summit.
— Reza Bashash (@rezabashash) October 9, 2019