- An XRP community member has criticized Ripple’s leadership via the X platform for prioritizing their own interests over the decentralization and growth of the XRP ecosystem.
- Additionally, Dark Horse contended that Alderoty’s assertion that XRP now enjoys the same legal clarity as Bitcoin is a deceptive oversimplification.
The XRP community alias “XRP army” has increasingly voiced its frustrations with Ripple, the company behind the XRP Ledger. A prominent XRP army member known as Dark Horse took to the X platform to air his grievances.
As an XRP holder I’m going to give my absolute truth to you @Ripple @bgarlinghouse @JoelKatz @MonicaLongSF @Vet_X0 for the last 2 years here in X I have highlighted, your bot use, your XRP-0, prisma, Your Net neutral ODL transactions, your reliance on Centralised…
— ĐΛRKHØRSΞ
(@DarkhorseDNME4) September 1, 2024
The XRP member criticized Ripple leadership, including CEO Brad Garlinghouse, President Monica Long, and CTO David Schwartz, among others, for what he terms prioritizing Ripple’s interests over the growth and decentralization of the XRP ecosystem. His lamentations have ignited a heated debate, with a growing number of members calling for a decentralized autonomous organization( DAO) to take control of the XRP ledger.
Dark Horse, a researcher and XRP holder, accused the aforementioned Ripple executives of pushing projects that primarily benefit Ripple and its affiliates rather than the broader XRp ecosystem, stating that:
for the last 2 years here in X I have highlighted, your bot use, your XRP-0, prisma, Your Net neutral ODL transactions, your reliance on Centralised Exchanges, every project you claim will help XRP that doesn’t do anything for XRP holder
Additionally, Dark Horse lamented that Ripple’s initiatives, such as Root Network and OpenEden Tbills, serve little to no purpose other than providing opportunities to offload its XRP holdings for a profit.
Dark Horse went further, highlighting that the Root network and OpenEdenTbills have been heavily backed by Ripple yet they are devoid of value. “from Root Network which you gave 5 million XRP to and sit on the company ownership for” Notably, the root network is built on Substrate’s Open-source blockchain framework and connects games and content but has little to no impact on the XRP ledger itself. On the other hand, OpenEden, which offers tokenized Treasury bills on the XRP ledger, has been criticized for being inaccessible to XRP holders, especially those in the U.S. and U.K.
Moving away from Ripple’s specific concerns, Dark Horse had a thing to say about what he perceives as a broader centralized control over the XRP Ledger. Dark Horse argued that Ripple’s influence over the network’s validators and its control over amendments to the ledger has crippled innovation and growth of the ecosystem.
Dark Horse pinpointed the Hooks amendment, which was designed to introduce smart contract functionality to the XRP Ledger. Dark Horse claimed that Ripple’s resistance to implementing such changes further showcases the company’s reluctance to give up control.
You can’t amend the XRPL. It is not decentralized; if Ripple doesn’t want it, or doesn’t like it, then the XRPL will not get it, he stated.
Lastly, Dark Horse took issue with Ripple’s legal team, especially Chief Legal Officer Stuart Alderotory, for their portrayal of the recent SEC settlement. Recently, the firm was ordered to pay $125 million to the SEC to conclude a legal battle that has gone on for years. While many XRP holders saw the settlement as a win, Dark Horse contended that Alderoty’s assertion that XRP now enjoys the same legal clarity as Bitcoin is a deceptive oversimplification.
At the time of writing, XRP is swapping hands with $0.5589, marking a 0.18% surge in the last 24 hours.
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