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Decentralized Blockchain is key to its success:Co-Founder Of Ripple, Stellar



Jed McCaleb founder of the infamous Mt. Gox cryptocurrency exchange, as well as the co-founder of XRP (Ripple) and XLM (Stellar), opinioned that technology behind cryptocurrency which is Blockchain should remain decentralized which is necessary for the success of Blockchain and cryptocurrency in an interview recently.

He stated that a centralized system in the crypto world would make “a system that is no better than SWIFT or PayPal.” Further, in support, he said that…

“The real vision is that you have a network, much like the internet, that anyone can participate in […] That’s the key thing to make these things successful.”

He has a vision that by 2028 all equity will be tokenized and be traded in a decentralized manner.As he is a critique of decentralized blockchain technology and co-founder of Ripple a payment protocol company.

We saw during the week that many opinions and discussions were heated on cryptocurrencies and many high profile or known personalities giving public statements on cryptocurrencies and blockchain like in an interview Edward Snowden expressed concerns that the Bitcoin (BTC) Blockchain is “devastatingly public”, calling BTC’s public ledger it’s “long-lasting flaw”.

Earlier on the week well known Jack Dorsey, the CEO of Twitter and payment service square expressed his views in mainstream media that he sees a single future currency emerging for the world and Internet, adding “I personally believe that it will be Bitcoin.”

Bitcoin also hiked up to 6 percent yesterday and volume trading of many cryptocurrencies increases after a low in market and investors expecting a big bubble again in the crypto world soon.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Neeraj Pandey is a crypto enthusiast who writes ardently about happenings in the crypto world since 2016 and delivers his knowledge of Blockchain, initial coin offerings (ICOs)  and breakdowns of the crypto world to its users relentlessly.