At the world economic forum in Davos, the CEO of Ripple brad Garlinghouse said that his company is not a competitor to Ethereum, according to AMBCrypto.
Debating with the head of the ConsenSys Joseph Lubina and head blockchain consortium Hyperledger Brian Behlendorf, Arlinghaus stated the following:
“It’s a marathon, not short sprint. Therefore, to judge the success of any platform on daily and hourly indicators — an empty idea. I think all major platforms are working on an interesting use-cases. I think we are still in the early stages of development of this market, why not consider Ethereum as a competitor”
At the same time, he noted that according to the popular service CoinMarketCap, ETH and XRP often fighting among themselves for second place. Arlinghaus added to this account are the following:
“I don’t think Ethereum somehow represent competition to what is happening in the ecosystem XRP. Are there any coincidences? Probably Yes, but I think you’ll see it all after some time”
Also, according to him, the company Ripple gains more and more support, but its ecosystem is in need of greater transparency. Speaking on the topic of decentralization, Arlinghaus noted that this word means many “nuances”.
He added that before bitcoin and ether was considered to be decentralized, while Hasrat not concentrated to the large players of the market. According to him, the digital currency, XRP, it is actually much more decentralized than coins whose networks are supported by the miners.
Arlinghaus touched upon the topic of bitcoin. According to him, the first cryptocurrency is more a store of value than a medium of exchange. At the same time such parameters as scale, and transaction costs, XRP is superior to the first cryptocurrency.
“If you accept bitcoin in its current form, you face limitations in scalability problems and disadvantages of the algorithm Proof-of-Work. There are many people that are trying to improve it all. Perhaps attempts will be successful, but maybe not. I’m not ready to say that bitcoin goes to zero. I still have some number of bitcoins because they can serve as a store of value,” — said the head of the Ripple. Discuss current news and events on the Forum
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