| This sounds a lot like ripple: ... Are people still fighting about this or have they come to a consensus? I'm probably the worst person to represent whether there's a consensus or not since I'm one of the designers of Ripple. But the important thing, at least in my opinion, is that there is no "secret sauce". The software is open source. People are free to modify it however they please. We run the exact same software that we make available on our public servers and our validators. Others are free to run validators and they do so. As it happens, much of the network infrastructure is run by us today. But we are more than happy to turn that over to others who are willing to do it. Why do you care if something is decentralized? The main reason is usually that you don't want the users of the system to be forced to accept changes made by an owner/operator of the system whose interest may be averse to them. Ripple is decentralized in this sense. For example, eBay is not decentralized. They don't warehouse their goods. But if eBay the company says no auctions of adult merchandise, then there will be no such auctions. It wouldn't matter if every user disagreed with the policy. Their only recourse would be to re-create what eBay had done, that is, to themselves implement eBay's secret sauce. By contrast, Ripple has no secret sauce. Anyone can run their own servers. If we make changes people don't like, nothing requires them to run the code with those changes. If Ripple disappeared and users of the ledger wanted it to continue, nothing would stop them from continuing it. https://bitcoin.stackexchange.com/questions/40448/is-ripple-... |
It's way more like Certificate Transparency than Ripple. Chronicle has nothing to do with payments or currency. It's just a ledger.