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 recent meeting that he does not consider Ripple as a competitor considering that it “isn’t a Blockchain innovation”.

In the interview with Bloomberg, he discussed the existing state of crypto market, Ethereum’s growth as well as regarding Ripple’s XRP & EOS. When Lupin was asked just what would certainly take place if “other methods which trade rate or decentralization for protection” end up obtaining favour in the mid to long-term, he seemed quite tranquil about it.

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

He even clarified the reason behind his peace, “Surge isn’t truly a Blockchain technology, it’s sort of a repayment system, so I do not actually take into consideration that a competitor.” He, after that took place to clarify his viewpoint relating to one more significant crypto, EOS. He described EOS job as “a somewhat, possibly somewhat, decentralized technique at constructing a Blockchain system.” Lubin proceeded, “EOS is a fascinating innovation however it’s unbelievably harmful to treat it as a layer-one innovation.”

At the same time, Lubin highly praised Ethereum claiming that in spite of the decrease in cost, over the past ten months, the programmer task in the ecological community broadened by “two orders of magnitude”. He included, “We feel the rapid task boost in our environment; it is frustrating just what’s going on.”

In the meeting, he discussed the current downfall in the rates of electronic money as well as said that it will certainly not constrict or negatively impact its development in the future times. He has compared the value upsurge to a bubble which resembles the formerly happening “6 huge bubbles, each even more impressive compared to the previous one, and each bubble is amazing when they’re taking place.

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

He said,” I definitely anticipate that there is a strong connection between the increase in price as well as the development of basic framework in the ecological community as well as the growth of advancement in the community. We are possibly 2 orders of magnitude larger as a developer neighborhood compared to we were 8 or 10 months ago.”

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