Ripple’s XRP ‘isn’t a competitor’ since it ‘isn’t really a Blockchain technology’: Ethereum co-founder

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August 17, 2018 by
Ripple’s XRP ‘isn’t a competitor’ since it ‘isn’t really a Blockchain technology’: Ethereum co-founder

Ethereum co-founder, Joseph Lubin, informed in a current interview that he does not consider Ripple as a rival because it “isn’t a Blockchain technology”.

In the meeting with Bloomberg, he mentioned the existing state of crypto market, Ethereum’s growth and also regarding Ripple’s XRP & EOS. When Lupin was asked exactly what would happen if “various other protocols which trade rate or decentralization for safety” end up gaining favour in the mid to lasting, he appeared to be fairly calm regarding it.

See also: Ripple: Bittrex is “preferred” crypto exchange for cross-border USD payments

He even explained the factor behind his calmness, “Ripple isn’t really a Blockchain technology, it’s sort of a settlement system, so I don’t really think about that a competitor.” He, then took place to explain his point of view pertaining to another significant crypto, EOS. He explained EOS project as “a somewhat, possibly a little, decentralized strategy at building a Blockchain system.” Lubin continued, “EOS is an intriguing innovation but it’s incredibly hazardous to treat it as a layer-one modern technology.”

On the other hand, Lubin highly commended Ethereum claiming that despite the decrease in rate, over the past ten months, the developer task in the ecological community increased by “two orders of size”. He included, “We feel the rapid activity boost in our community; it is frustrating exactly what’s going on.”

In the meeting, he mentioned the recent downfall in the rates of digital money as well as stated that it will certainly not constrain or negatively impact its development in the upcoming times. He has actually compared the value rise to a bubble which is similar to the previously occurring “6 large bubbles, each even more impressive than the previous one, and also each bubble is amazing when they’re taking place.

See also: Ripple targets China for blockchain based cross border transaction; plans further expansion

He claimed,” I definitely anticipate that there is a solid correlation between the surge in price as well as the growth of fundamental facilities in the ecological community and the development of growth in the ecosystem. We are most likely 2 orders of size larger as a designer neighborhood compared to we were 8 or 10 months ago.”

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