I know crypto pretty well and XRP isn't a real cryptocurrency.
Transactions aren't secured with proof-of-work and account balances can be frozen from afar. This allows government pressure to be brought to bear against custodians, currency issuers, and their users.
Also, it's not permissionless. In Bitcoin, anyone can anonymously start mining and get paid for doing it. Whereas with Ripple, the company maintains a Unique Node List, and any validator who isn't on that UNL list is not allowed to process Ripple transactions. This means that transactions are only validated by identified, approved people.
Finally, when XRP was first released, 100 billion of them were created and most were held by the company and developers/founders. This means that no matter how high the price wants to go, the company will always be able to sell into that pressure and constantly reap the ongoing revenue from maintaining a stable price for XRP.
I know crypto pretty well and XRP isn't a real cryptocurrency.
Transactions aren't secured with proof-of-work and account balances can be frozen from afar. This allows government pressure to be brought to bear against custodians, currency issuers, and their users.
Also, it's not permissionless. In Bitcoin, anyone can anonymously start mining and get paid for doing it. Whereas with Ripple, the company maintains a Unique Node List, and any validator who isn't on that UNL list is not allowed to process Ripple transactions. This means that transactions are only validated by identified, approved people.
Finally, when XRP was first released, 100 billion of them were created and most were held by the company and developers/founders. This means that no matter how high the price wants to go, the company will always be able to sell into that pressure and constantly reap the ongoing revenue from maintaining a stable price for XRP.
Thank you for the clarifying concept regarding blockchain. Permissionless and unique nodes are very important concepts.