The XRP Ledger, a decentralised layer 1 blockchain, is run by a community of developers globally. However, it has faced criticism for being centralised. One of the most prominent cases is the U.S. Securities and Exchange Commission’s lawsuit against Ripple, alleging that it issued an unregistered security. Critics argue that the initial distribution of XRP to Ripple and the functionality of the XRP ledger contribute to this centralization. In 2017, Ripple announced plans to increase decentralisation and prevent any single entity from having control over the XRP Ledger. This included switching to validator manifests, enhancing validator security, and publishing a
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Author: NixCoin