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 doesn’t take into consideration Ripple as a competitor since it “isn’t a Blockchain innovation”.

In the meeting with Bloomberg, he discussed the present state of crypto market, Ethereum’s growth and about Ripple’s XRP & EOS. When Lupin was asked what would take place if “other procedures which trade speed or decentralization for security” wind up obtaining favour in the mid to long-term, he appeared to be quite calm regarding it.

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

He even clarified the reason behind his calmness, “Ripple isn’t truly a Blockchain technology, it’s kind of a settlement system, so I do not truly consider that a rival.” He, after that went on to describe his perspective relating to an additional major crypto, EOS. He described EOS task as “a slightly, perhaps a little, decentralized strategy at constructing a Blockchain system.” Lubin proceeded, “EOS is an interesting innovation however it’s exceptionally harmful to treat it as a layer-one innovation.”

Meanwhile, Lubin extremely praised Ethereum saying that regardless of the decline in price, over the past ten months, the developer task in the ecosystem broadened by “2 orders of magnitude”. He added, “We feel the exponential activity increase in our community; it is frustrating what’s going on.”

In the meeting, he mentioned the current downfall in the prices of digital money and also said that it will not constrict or negatively influence its development in the approaching times. He has contrasted the value rise to a bubble which is similar to the previously happening “six huge bubbles, each more impressive compared to 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 stated,” I definitely expect that there is a strong connection in between the increase in price and the development of basic facilities in the ecosystem and the development of advancement in the environment. We are probably 2 orders of magnitude larger as a designer community compared to we were 8 or 10 months back.”

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