0 Hacks...Why Has the XRP Ledger Not Been Breached?

▲ Ripple (XRP), Dollar (USD)/ChatGPT generated image ©

Interest in the security structure of the XRP Ledger, based on XRP (Ripple), is growing as it has once again been highlighted that it has not recorded a single protocol hacking incident for several years.

According to cryptocurrency media outlet Bitcoinist on April 23 (local time), the XRP Ledger is considered one of the few major blockchains that has had no losses due to protocol-level hacks or exploits to date. This record contrasts with the approximately $15 billion in hacking damages that have occurred across the entire industry so far.

Analysis suggests that this difference stems from its design philosophy. The XRP Ledger has adopted a structure that prioritizes stability and transaction finality over experimental features and has minimized complex bridge or interoperability structures to reduce the attack surface. Some experts explain that this structure is why it has been adopted in financial institution infrastructure.

The security debate further spread with remarks from Ripple CTO David Schwartz. He stated that the risks of bridge systems were considered a major variable during the design of the stablecoin project RLUSD, pointing out that some projects reduced security measures for the sake of scalability and convenience, which led to major hacks.

Indeed, in the case of the KelpDAO hack, which caused approximately $292 million in damage, a single verification structure was reportedly a vulnerability. In contrast, RLUSD adopted a method of direct issuance on the XRP Ledger and Ethereum, and reduced risks by maintaining a multi-verification structure even during cross-chain expansion.

Ultimately, the XRP Ledger's security competitiveness is interpreted as a result of structural choices rather than simple technology. With the strategy of prioritizing stability over network expansion being credited for its "0" hacking incidents to date, attention is now focused on whether institutional adoption will expand in the future.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*