Thursday , June 24 2021

Brad Garlinghouse: Ethereum is not a competitor to XRP



During the Davos World Economic Forum, Ripple CEO Brad Garlinghaus said his company was not a competitor to Ethereum, says AMBCrypto.

Speaking with ConsenSys head Joseph Lubin and head of the Hyperledger blockchain consortium, Brian Blenddorf, Garlinghouse said:

"It's a marathon, not a short race. Therefore, evaluating the success of every platform with daily and hourly rates is a fool's job. I think all major platforms work on interesting consumer cases. I think we are still in the early stages of this market, so I do not consider Ethereum a competitor. "

At the same time, he noted that, according to the popular CoinMarketCap service, ETH and XRP often struggle with each other for the second rating line. Garlinghouse added the following to this profile:

"I do not think Ethereum somehow competes with what's happening in the XRP ecosystem. Are there any accidents? Definitely yes, but I think you'll see all this after a while.

Also, according to him, Ripple is gaining more support, but the ecosystem needs more transparency. By touching on the issue of decentralization, Garlinghaus noted that the word itself implies many "nuances".

He added that earlier Bitcoin and broadcasting were considered decentralized as the hash is concentrated among the major players on the market. According to him, the digital currency XRP is actually much more decentralized than coins whose networks are maintained by miners.

Garlinghaus touched on Bitcoin. According to him, the first crypto-wave is more a means of preserving value than a means of exchange. At the same time, in parameters such as scaling and transaction costs, XRP exceeds the first cryptoblock.

"If you accept Bitcoin in its current form, you are confronted with limitations in the form of scalability issues and shortcomings of the Proof of Labor algorithm. There are many people who are trying to improve everything. Perhaps the attempts will succeed, and perhaps not. I'm not ready to say that the battlesin is aiming at zero. I still have some bitches, as they can serve as a cost-saving tool. "– added Ripple's head.

Remember, RippleNet has more than 200 companies.

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