Mahachai, a renowned Thai Crypto Influencer, criticized that the XRP is centralized. As long as XRP cannot answer who runs their centralized nodes, XRP is never a legitimate tool for anyone. He also accused Ripple CEO Brad Garlinghouse of manipulation. Mahachai’s blunt criticism emphasizes the crypto community’s ongoing debate about the centralization of XRP nodes, which has haunted Ripple for years.
XRP’s Controversial Origin Story
Recently uncovered evidence suggests that David Schwartz, Ripple’s CTO, may have held the blueprint for the XRP Ledger since 1988. Yes, you read it right—1988! EDO Farina, an outspoken XRP advocate, took to Twitter to drop this bombshell, comparing Schwartz’s 1988 patent to the present-day XRP Ledger. This bombshell revelation has thrown the XRP community into a spiral, questioning the very foundation and decentralization of the XRP Ledger itself.
Ethereum in the Hot Seat: The Murky “ETH Gate”
On the other hand, the term “ETH Gate” has been gaining prominence, especially among XRP supporters. Influencer Whale’s tweet highlighted the seemingly cozy relationships between key Ethereum figures and U.S. regulatory bodies. The tweet mentions Joseph Lubin’s hiring of Patrick Berarducci, the alleged Hinman-Lubin email exchanges, and Jay Clayton’s post-SEC engagement with One River Digital Asset Management—a company with substantial Ethereum holdings.
This has led to speculation whether Ethereum has received a “free pass” from regulators while projects like XRP face heightened scrutiny.
Another point to be noted is that Ethereum now faces its own existential challenges, such as scalability, setting the stage for rival platforms like XRP to carve out their territories.
Despite the controversy, Ripple has been making significant strides. It is used by various banks globally for expedited, cost-effective payment transfers and has even been considered by the Colombian government for land registry applications. With Ethereum grappling with scalability issues, Ripple and other blockchain projects seem ready to seize any lapse in Ethereum’s hold on the market.
This news is republished from another source.
