Justin Bons criticizes XRP Ledger decentralization claims

Justin Bons, founder of Cyber Capital, has criticized the XRP Ledger (XRPL) decentralization model, labeling claims of its decentralization as ‘fraud’. Bons argues that the network operates more like a Proof of Authority system than a truly open blockchain, noting that consensus relies heavily on Unique Node Lists (UNLs) published by Ripple and the XRP Ledger Foundation.

The controversy follows an emergency security update, version 3.4.1, which was distributed in late September. Developers temporarily withheld the source code for this release to prevent the disclosure of specific security vulnerabilities before the network was protected. This update, known as fixBatchV1_2, was scheduled for activation on October 9.

Bons expressed concern that requiring operators to run temporarily closed-source software contradicts the transparency expected of decentralized networks. He noted that servers failing to upgrade to the new version would become amendment-blocked and unable to synchronize with the network. XRPL developers have stated that the source code and a technical retrospective will be published once the disclosure no longer poses a security risk.