CandleFocus Ripple's XRP is a 'Fraud': Cyber Capital Founder Stirs the Internet
2024-12-02
Author: Content Editor
Justin Bons, founder and CIO of Cyber Capital, has accused Ripple's XRP of misleading investors about its decentralization. In a detailed Twitter thread, Bons stated that XRP is centralized and that the foundation has total control over the network. He criticized XRP's consensus mechanism, which is based on centralized lists of trusted nodes, and argued that this design is not decentralized. Bons also highlighted Ripple's control over the network, stating that nodes outside approved lists are excluded from participating in consensus. The XRP community responded to Bons' claims and expressed confidence in the Ripple ecosystem.
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