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XRP CyberCapital founder Justin Bons: XRP's "decentralized" narrative is suspected of fraud
Justin Bons, founder and chief investment officer of CyberCapital in the Netherlands, has sharply criticized XRP and its governance model, questioning the degree of decentralization of the cryptocurrency and the transparency of the verifier software.
XRP verifier software faces review
Buns alleges that XRP has been running using closed-source verifier code for the past two weeks. He claims the code will soon become mandatory for all verifiers, meaning nodes that do not adopt the code may be excluded from the network.
He believes that this situation stems from the list of permitted nodes maintained by the entity responsible for the XRP network. He pointed out that verifiers must comply with the software and compliance requirements stipulated by the entities that control these lists.
Buns asserted that using closed-source binaries could expose verifiers and the network to significant risks, and malicious code could steal funds or damage systems. He insisted that "peddling so-called 'decentralized' XRP to retail investors is plain fraud" and described the enforcement of closed source code as a clear threat to open network principles.
Bunce also refuted arguments that closed source code was necessary for critical security updates. He compared XRP's approach to Bitcoin, Ethereum and Solana, noting that other major networks have historically implemented fixes and upgrades by inviting verifiers to run new open source code, even though details of the security breach have not yet been widely disclosed. He believes this continued transparency allows verifiers to check the underlying code themselves, striking a balance between user safety and decentralized integrity.
Criticism of Ripple's consensus structure
Bunce further criticized the consensus system behind the XRP network. He characterized it as an operation based on "Proof of Authority"(PoA)-a consensus mechanism where authority is established by designated entities.
It is reported that US enterprise-level blockchain companies Ripple and the XRP Ledger Foundation jointly maintain two key license verifier lists that manage network participation qualifications. Bunce believes this means that XRP relies on licensed entities rather than an open, permission-free network. He compared this to the Canton blockchain network, noting that while both platforms control verifiers through permissions, Canton is more transparent in its governance model.
Noun explanation: Authoritative Proof (PoA)
PoA是一种区块链共识机制，其中一组经过批准的账户（而非匿名或无需许可的参与者）负责验证交易并创建区块。权威通常由中央组织选择的实体授予，这往往带来更高的速度和效率，但与工作量证明（PoW）或权益证明（PoS）模型相比，其去中心化程度较低。
关于误导和中心化的指控
赛博资本的创始人对Ripple将XRP描绘成去中心化网络的做法表示不满。他辩称，外部的加密货币研究人员并不认可XRP的去中心化地位，反而视其为最中心化的区块链项目之一。
他强调，“$XRP生态系统之外的加密研究人员通常认为该代币的去中心化叙事是一个‘糟糕的笑话’”，并认为说服散户投资者相信相反的观点，以类似投资欺诈的方式误导了市场。
邦斯指出，代币的供应分布是其主张的进一步证据。他表示，Ripple最初将全部的XRP供应量分配给自己，然后逐渐向公众出售代币——这一过程引发了人们对中心化和潜在操纵行为的更多担忧。
呼吁真正的去中心化
总结其观点时，邦斯警告说，区块链中集中的权力（正如他在XRP设计中看到的那样）可能会被滥用。他鼓励用户迁移到优先考虑真正去中心化、可扩展性和健全治理的替代区块链网络。
