Decentralization of XRPL: Distributed Governance and Validators! 🌐🔒
Ripple played a key role in its creation, the architecture of XRPL aims for decentralization.
Validators: XRPL does not use mining. Instead, it relies on a unique consensus mechanism where a network of independent validators (nodes) confirms transactions.
Unique Node List (UNL): Each participant in the network independently chooses a list of trusted validators (Unique Node List – UNL) that they trust. To reach consensus, it is sufficient for the majority of validators in the UNL to agree on the order of transactions.
Ripple's Efforts: Ripple continues to actively work on encouraging the growth of independent validators and their geographical distribution to reduce its dependence on the UNL proposed by Ripple.
Open Source: The XRP Ledger is an open-source project, allowing anyone to view, verify, and propose changes to the code.
Decentralization of XRPL is a dynamic process that constantly evolves through community participation and efforts to expand the validator network.
