InstaForex

July 8, 2021

‘XRP Is Better Than BTC’ - Ripple Development Director

 Ripple Development Relations Director Matt Hamilton has an answer for those still skeptical of the use of XRP.


Recently questions have arisen among Twitter users about the actual uses of XRP. Some of them also consider the currency useless and a centralized version of 'bitcoin' that is not accepted by banks.


In fact, XRP Ledger (XRPL) has also been criticized for its closed -ended node feature. Of the 156 validation nodes in Ledger, only 19 are Ripple nodes. This means that the company controls about 12% of the total available nodes.


Hamilton denied the allegations. 1/ XRP just like Bitcoin is a decentralized asset. This means that both the Bitcoin blockchain and XRP Ledger are public and anyone can see the transactions made on the network. 2/ XRP is much better than BTC because the energy consumption for the production of the crypto king is not scalable.


If there is an issue related to the XRP use case, Hamilton believes it is the same as Bitcoin which focuses on providing peer-to-peer payments without intermediaries.



About more than 20 companies have leveraged Ripple’s On-Demand Liquidity (ODL) solution and about 100 projects use XRP for micro payments.


Is XRP more decentralized than Bitcoin? According to Hamilton, yes. Control over XRP Ledger is much broader than Bitcoin.


There may still be confusion between XRP Ledger and XRP.


XRPL: a decentralized, public blockchain


XRP: native digital assets/coins in XRPL; a cryptocurrency used as a medium of payment