According to a media release from the Ripple ledger foundation, the unique node list has undergone several revisions and changes. As of October 6, two ripple-operated validators have been removed, and one ripple validator with a public key has been added. With this modification, only 2 out of 35 validators are ripple-operated.
The aim to decentralize Ripple has been in effect for several years. The process has been progressing steadily. Efforts were made to broaden the XRP ledger’s validators and add attested validators to UNL. Variety in identities, locations, and software platforms reduces reliance on a single body, supports continued system efficiency, and decreases the likelihood of single points of failure.
With the addition of attested validators, ripple-controlled validated nodes would be exempted, and foreign validated nodes added, effectively promoting decentralization. On the XRP ledger, it is still intended that no single board will run the majority of trusted nodes.
Validators for the ripple network are chosen based on their qualifications and scrutinized for qualities including dependability, relevancy, consistency, and security. Ripple’s choices, therefore, reflect security, in contrast to some platforms that only consider mining power when selecting validators. On this platform, validators are less vulnerable to cyberattacks.
Platforms have embraced decentralization because of its enormous advantages. Banks impose greater costs for international payments, while users of the Ripple platform can quickly transmit funds at a cheaper price.
In addition to removing single points of failure, decentralization ensures fast transactions on the Ripple platform, while banks might require a few days to complete a successful money transfer.
Given that more than 50% of the validators in the UNL were ripple-owned a few years ago, the decrease in ripple-owned validators suggested a significant development. Following the announcement, Ripple users and supporters offered supportive comments, with several highlighting how the network has stayed loyal to its purpose.