XRP and Ethereum (ETH) aren’t on a Collision Course, Ripple CEO Says

 According to Ripple’s CEO Brad Garlinghouse, the XRP digital token and Ether are not on a collision pattern. We can recall from an earlier report about the question and answer session attended by the heads of crypto networks. Speaking at the Ethereal Davos Panel, a panel that included top personalities like Brain Behlendorf of the Hyperledger and Joseph Lubin of ConsenSys, the crypto asset network heads had an open and direct discussion about a number of issues. All of which focused on the future of the Blockchain technology and the cryptocurrency industry.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.270
-2.16%

Garlinghouse: Measuring the Success of Any Crypto is a Fool’s Errand

Talking about XRP, Garlinghouse spoke on how he didn’t consider Ethereum (ETH) as a competitor or rival. He indicated that the cryptocurrency space is like a “marathon, not a sprint. The Ripple boss also insisted that measuring the level of success attained by any cryptocurrency platform daily or hourly is a fool’s errand”. Additionally, each digital coin is more focused on its related audience with major platforms working on interesting use-cases.

When speaking on the intense focus of the cryptocurrency community on CoinMarketCap’s rankings regarding their total market cap, which sometimes shows the XRP and Ether tokens in a duel for the number two position. According to Garlinghouse, there’s an overlap of interest.

Although Garlinghouse went on to add that:

I don’t consider what Ethereum (ETH) is doing a competition considering what’s happening in with the XRP space. Surely (there’s an overlap), but I think things are going to play out accordingly in a long period.”

When speaking on the issue of unity of purpose, which is often regarded as an important focus of the sector, Garlinghouse was reportedly upbeat. He was optimistic about the dedication of the majority of the top digital currencies.

There Hasn’t Been Any Change in Company Ethics

When addressing growing concerns about the XRP token, about the issue of transparency and centralization, Garlinghouse defended his coin by dismissing the fears spread to the public by some sections of media. The CEO of Ripple also went on to discuss decentralization calling the word nuanced. The Ripple boss then went on to defend his Ledger calling it one of the more decentralized systems than many other mining based solutions. Garlinghouse went on to declare that Ripple has from the onset tried to always be a market leader. Ripple championed the need for more transparent processes in the cryptocurrency space.

Garlinghouse: More Needs to be Done to Improve the Crypto Space

Garlinghouse when adding on the topics addressed during the summit acceded that more must be done to improve the space. While digital currencies like Bitcoin (BTC) and Ethereum (ETH) are regarded as the benchmark for what a completely decentralized system should look like, concerns over mining and looming fears of multiple 51% attacks are two areas that require thorough discussion.

A confluence of thought as the above mentioned is imperative when it comes to tackling issues that have gradually cropped up into the space as the industry expands. These issues need to be tackled soon enough rather than late as such uncensored debates are probably the right direction to assist the growing space.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.