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, told in a recent meeting that he does not think about Ripple as a competitor since it “isn’t really a Blockchain technology”.

In the interview with Bloomberg, he mentioned the present state of crypto market, Ethereum’s development as well as about Ripple’s XRP & EOS. When Lupin was asked exactly what would happen if “various other methods which trade rate or decentralization for safety and security” end up gaining favour in the mid to lasting, he seemed quite calm concerning it.

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

He also discussed the reason behind his calmness, “Ripple isn’t actually a Blockchain technology, it’s type of a payment system, so I don’t really consider that a rival.” He, after that went on to describe his viewpoint regarding one more major crypto, EOS. He explained EOS job as “a slightly, possibly somewhat, decentralized approach at developing a Blockchain system.” Lubin proceeded, “EOS is an intriguing modern technology yet it’s exceptionally harmful to treat it as a layer-one technology.”

At the same time, Lubin extremely commended Ethereum claiming that in spite of the decline in price, over the past 10 months, the designer task in the community increased by “two orders of size”. He included, “We really feel the rapid activity increase in our ecological community; it is overwhelming just what’s going on.”

In the meeting, he discussed the current failure in the costs of electronic currency and also stated that it will certainly not constrict or negatively influence its development in the approaching times. He has actually compared the value boom to a bubble which resembles the previously taking place “6 large bubbles, each even more epic than the previous one, and also each bubble is impressive when they’re happening.

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

He claimed,” I definitely expect that there is a solid connection in between the increase in price and also the growth of fundamental framework in the ecosystem and the growth of growth in the ecological community. We are probably 2 orders of size bigger as a designer community compared to we were eight or 10 months back.”

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