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Jed McCaleb States the Difference Between Ripple and Stellar (XLM)
In a recent tweet, crypto enthusiast Stellar Expert addressed the XRP community directly with a series of questions following an interview featuring Jed McCaleb, co-founder of both Ripple and Stellar. The conversation saw McCaleb offer in-depth insight into the philosophical differences that led him to leave Ripple and create Stellar.
During the interview, McCaleb emphasized his vision to build what he referred to as “an internet-level protocol.” He stressed that such a protocol should be operated by a non-profit entity, much like how the internet currently functions. The expert noted that a payments network should operate openly and interoperably, just as information does on the internet, necessitating governance and structure that he believed Ripple did not implement.
McCaleb also highlighted the importance of broad participation across the network, stating that a decentralized payments platform relies heavily on the widespread distribution of its native asset and engagement from numerous independent participants. He pointed out that Stellar’s efforts to distribute its underlying coin as widely as possible were central to this philosophy.
The interview touched on concerns surrounding centralization and technical limitations. The expert highlighted Ripple’s consensus algorithm, which he believes makes it challenging for parties outside Ripple Labs to run nodes. McCaleb argued that this setup results in Ripple Labs operating the majority of the nodes, effectively creating a centralized system akin to existing platforms such as SWIFT or PayPal.
In his concluding remarks, McCaleb reiterated the importance of an open, decentralized system to achieve ubiquity and sustainability. He stressed that only a truly open network, uncontrolled by a central authority, holds potential for global scale and user trust, mirroring the development of the internet.
Source: timestabloid.com
