XRP Ledger Criticized for High Bot Activity Amidst Ongoing Development
- In August, XRP Ledger saw 793 accounts responsible for over 93% of all transactions.
- A study by Bitquery revealed that only about 0.8% of the ledger’s traffic came from genuine human payments.
- Critics, including Scam Daddy, labeled the network a “Ghost chain,” citing persistent low-value transactions driven by bots.
- Ripple CTO Emeritus David Schwartz defended the network, questioning if higher costs would improve its value.
- Development on the XRP Ledger continues with the xrpld version aiming to implement role-based permissions for institutions.
The XRP Ledger faces scrutiny due to a significant concentration of transaction activity among a small number of accounts, raising questions about its utility and user engagement. Critics argue that this trend undermines the network’s credibility as a viable payment solution.
With just under one percent of transactions attributed to real human payments in August, concerns about the network’s effectiveness are growing amid ongoing development efforts like Permission Delegation.(Source)
