Ripple, the company behind XRP, has long claimed that its native token is decentralized and permissionless. However, some members of the crypto community are now accusing Ripple of false claims. Justin Bons, the founder of Cyber Capital, claims to have found a “smoking gun” that proves Ripple has de facto control over the entire XRP network.

Bons’ claim is based on XRP’s consensus algorithm, Unique Node Lists (UNLs). The UNLs are a list of trusted nodes that centralized parties, including the Ripple Foundation, release. Nodes not on these lists are untrusted and do not participate in consensus.

According to Bons, Ripple’s control over the UNLs means that it has control over which nodes can participate in consensus and which ones cannot. This, in turn, means that Ripple can control the entire network and potentially manipulate it for its own benefit. Bons’ claim has sparked a heated debate within the XRP community, with some supporting his assertion and others dismissing it as baseless.

Ripple has long touted XRP’s decentralization as one of its key features. According to Ripple, XRP is not controlled by any one entity, including Ripple itself. Instead, it is a decentralized cryptocurrency that operates on a distributed ledger called the XRP Ledger. The XRP Ledger is maintained by a network of independent nodes that validate transactions and maintain the integrity of the ledger.

However, Bons’ claim suggests that Ripple’s control over the UNLs undermines XRP’s decentralization. If Ripple has control over which nodes can participate in consensus, then it has a significant amount of control over the network as a whole. This, in turn, could potentially undermine the security and integrity of the network.

Bons’ claim has been met with mixed reactions from the XRP community. Some have praised him for exposing what they see as Ripple’s false claims of decentralization. Others, however, have dismissed his claims as overblown and unfounded. Some have even accused Bons of spreading FUD (fear, uncertainty, and doubt) in order to manipulate the price of XRP.

Regardless of the validity of Bons’ claim, it is clear that the issue of XRP’s decentralization is a contentious one. Many in the crypto community have long criticized Ripple for its centralization and control over XRP. Some have even called for XRP to be delisted from crypto exchanges due to its lack of decentralization.

Despite the controversy surrounding XRP’s decentralization, Ripple remains one of the most well-funded and influential companies in the crypto industry. The company has been working to expand the use of XRP beyond its core user base of banks and financial institutions. Ripple has also been pushing for greater regulatory clarity around cryptocurrencies, arguing that clear guidelines are necessary for the industry to thrive.

In conclusion, the XRP community is divided over whether XRP is truly decentralized or not. While Ripple has long claimed that XRP is decentralized and permissionless, Bons’ claim that Ripple has de facto control over the XRP network has raised questions about the token’s true level of decentralization. Regardless of the validity of Bons’ claim, the issue of XRP’s decentralization is likely to remain a contentious one within the crypto community.