XRP Ledger $XRP

XRP Ledger is one of the oldest and established blockchains. Despite the popularity of the XRP Ledger, little is known about the underlying peer-to-peer network. The structural properties of a network impact efficiency, security, and robustness. We aim to close the knowledge gap by providing a detailed analysis of the XRP overlay network. In this paper we examine the graph theoretical properties of the XRP Ledger peer-to-peer network and its temporal characteristics. We crawled the XRP ledger over two months and collected 1,290 unique network snapshots. We uncover a small group of nodes that act as the backbone of the network. Additionally, we observed high network churn, with one-third of nodes changing every five days. Our findings have strong implications for the resilience and security of the XRP Ledger.

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