Chain News by Thebittimes.Com

The crypto -verse started out as an entity free from the shackles of centralized systems. However, with time decentralization began taking a backseat in the ecosystem. Prominent fintech firm Ripple and cryptocurrency XRP was time and again called out for being increasingly centralized. Now, however, things seemed to be changing with Ripple reducing its XRP holdings. According to Ripple’s Q3 2022 markets report, the firm reduced its holdings below 50 percent of the total supply for the very first time. This is reportedly considered a “huge milestone” for the firm. Brad Garlinghouse, the CEO of Ripple took to Twitter and said, Below 50% – a huge milestone! For 10 years, Ripple has focused on using XRP & the XRPL within our products for its speed, security and scalability for movement of value. As more customers use XRP in their payments flows, it’s clear there is real utility here. https://t.co/jKZwye17uZ — Brad Garlinghouse (@bgarlin...

Source: AdobeStock / MigrenArt Software engineer and cryptographer Nik Bougalis has announced that he is leaving Ripple after nearly 10 years at the firm.  Joined a growing list of crypto leaders who are leaving their executive roles in the industry amid the ongoing crypto crash, Bougalis said in a Saturday tweet that his role as Ripple’s chief engineer will come to an end in a "few weeks." “My decade-long journey at Ripple has been a fantastic (if exhausting and all-consuming) one. I got to work on a project that I love, towards a goal I believe in. But that journey will be coming to an end in a few weeks,” he tweeted. At Ripple, Bougalis mainly worked on open-source code projects for the payments XRP Ledger, also known as XRPL. He has also overseen a series of major developments to the ledger&rsquo ;s code base including the introduction of NFTs, which is scheduled to go live in November. One of the key recent developments th...