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 founder, Joseph Lubin, informed in a recent interview that he doesn’t think about Ripple as a competitor since it “isn’t a Blockchain technology”.

In the interview with Bloomberg, he discussed the current state of crypto market, Ethereum’s growth and also concerning Ripple’s XRP & EOS. When Lupin was asked what would certainly occur if “other protocols which trade rate or decentralization for security” end up getting favour in the mid to long-term, he appeared to be quite tranquil about it.

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

He even explained the reason behind his calmness, “Ripple isn’t really a Blockchain innovation, it’s type of a repayment system, so I don’t actually consider that a rival.” He, after that took place to explain his perspective pertaining to an additional major crypto, EOS. He described EOS job as “a slightly, perhaps somewhat, decentralized technique at constructing a Blockchain system.” Lubin proceeded, “EOS is a fascinating technology yet it’s exceptionally harmful to treat it as a layer-one modern technology.”

Meanwhile, Lubin extremely praised Ethereum stating that in spite of the decrease in rate, over the past ten months, the developer task in the ecosystem expanded by “2 orders of size”. He added, “We really feel the rapid activity increase in our ecosystem; it is frustrating just what’s taking place.”

In the meeting, he discussed the recent failure in the prices of electronic money and claimed that it will certainly not constrict or adversely impact its growth in the future times. He has compared the value rise to a bubble which is similar to the formerly occurring “6 big bubbles, each more impressive than the previous one, and each bubble is amazing when they’re happening.

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

He said,” I definitely expect that there is a solid connection in between the increase in rate and the development of fundamental infrastructure in the ecosystem and also the development of advancement in the ecosystem. We are probably two orders of magnitude larger as a programmer area compared to we were 8 or 10 months ago.”

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