- The “permissioned” list
- “Fooling” the SEC and retail
Crypto researcher Justin Bons has slammed the Ripple-linked XRP Ledger cryptocurrency and several other major networks, arguing that these are “centralized blockchains” that fundamentally betray the ethos of the crypto movement.
Bons argued that the industry must draw a hard line against networks that rely on permissioned elements.
“We must reject all centralized ‘blockchains’!” Bons wrote. “Centralization is not the future of finance; requiring permission from an authority is not decentralized!”
HOT Stories
Researcher Slams XRP as Centralized
Morning Crypto Report: Mr. XRP Yoshitaka Kitao Predicts 2026 On-Chain Revolution, Bitcoin in ‘Not Digital Gold’ Period: CryptoQuant CEO, Ethereum Foundation to Stake 70,000 ETH
The “permissioned” list
XRPL, Stellar, Hedera, Canton, and Algorand are among the blockchain networks that have been singled out by Bons. He has argued that they rely on “Proof of Authority,” which is not true decentralized consensus.
XRP has faced particularly harsh criticism due to its controversial “Unique Node List” (UNL), which is a recommended list of validators that nodes.
“Ripple: Has a ‘Unique Node List’, which makes the validators effectively permissioned,” Bons explained.
“Fooling” the SEC and retail
The thread sparked immediate backlash from XRP proponents. One user accused Bons of a “scary twisting of reality” regarding XRP’s architecture.
Bons fired back, claiming that Ripple’s marketing has successfully misled both the public and regulators.
“XRP convincing masses of ignorant retail investors that they are more decentralized than BTC & ETH is the scary reality here,” Bons retorted. “Even fooling the SEC & saving their own asses in the process. They cannot fool real crypto researchers; we know the difference!”
According to the researcher, credible neutrality, censorship resistance, privacy, and immutability can only be achieved on a fully permissionless and decentralized blockchain.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP Ledger Questioned for "Centralization"? Ripple CTO Responds, Decentralization Controversy Heats Up Again
February 25 News, the debate over whether XRP Ledger (XRPL) is a centralized blockchain has quickly heated up in the crypto community. Justin Bons, founder and CIO of Cyber Capital, publicly questioned the decentralization of XRPL, arguing that its reliance on the Unique Node List (UNL) mechanism essentially makes it a "permissioned blockchain," deviating from the true permissionless crypto network concept.
Justin Bons pointed out that XRPL validators typically refer to recommended node lists published by a central authority. Deviating from this list could lead to network forks, thereby structurally creating potential governance centralization risks. He also categorized XRPL alongside networks like Stellar, Hedera, and Algorand as "permissioned architectures," emphasizing that blockchains not based on PoW or PoS consensus might be closer to an authority proof model (PoA), making it difficult to achieve full trust minimization.
GateNewsBot35m ago
[Spot ETF] XRP·SOL continue to see net inflows… HBAR·AVAX switch to inflows
The US cryptocurrency spot ETF market data shows that XRP and SOL each achieved single-day net inflows of $3.04 million and $3.78 million, respectively, while DOGE and LINK maintained zero net inflow/outflow. Several ETFs experienced net inflows, but overall liquidity has contracted.
TechubNews1h ago
XRP Ledger On-Chain Activity Hits All-Time Highs Amid Persistent Price Weakness
The XRP Ledger (XRPL) recorded all-time highs in network activity during February 2026, including a surge in successful payments and Automated Market Maker (AMM) deposits, following recent protocol upgrades. Despite this on-chain growth, XRP's price remained under pressure, trading at \$1.33 as of late February, down 45% from its yearly high and struggling to break the \$1.47 resistance level.
CryptopulseElite2h ago
XRP Today's News: ETF Net Inflows Exceed 1.2 Billion, Institutional Demand Supports Mid-Term Outlook
On February 24, the US CB Consumer Confidence Index unexpectedly rose to 91, boosting the Federal Reserve's hawkish expectations. The probability of a rate cut in June decreased to 49.6%, putting short-term pressure on XRP. However, on the same day, US XRP spot ETF inflows reached $3.04 million, with a total net inflow of $1.23 billion since its launch in November last year. Continuous buying by institutional investors has formed structural support.
MarketWhisper3h ago
