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

In the interview with Bloomberg, he discussed the present state of crypto market, Ethereum’s growth and also about Surge’s XRP & EOS. When Lupin was asked what would take place if “various other methods which trade rate or decentralization for security” end up getting favour in the mid to lasting, he seemed rather calm about it.

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

He even described the factor behind his calmness, “Ripple isn’t actually a Blockchain modern technology, it’s kind of a payment system, so I don’t really think about that a competitor.” He, then took place to clarify his perspective relating to an additional major crypto, EOS. He defined EOS job as “a somewhat, perhaps a little, decentralized method at constructing a Blockchain system.” Lubin continued, “EOS is an intriguing innovation however it’s unbelievably dangerous to treat it as a layer-one technology.”

On the other hand, Lubin highly praised Ethereum saying that in spite of the decline in cost, over the past 10 months, the programmer task in the ecosystem increased by “2 orders of magnitude”. He included, “We feel the exponential activity rise in our ecosystem; it is frustrating just what’s taking place.”

In the interview, he spoke about the current failure in the rates of electronic currency and said that it will not constrain or negatively affect its growth in the forthcoming times. He has compared the value upswing to a bubble which is similar to the formerly happening “6 huge bubbles, each even more epic than the previous one, and each bubble is unbelievable when they’re happening.

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

He said,” I absolutely expect that there is a strong correlation between the rise in cost and the growth of fundamental framework in the ecological community as well as the development of advancement in the community. We are probably 2 orders of magnitude bigger as a programmer community than we were eight or 10 months back.”

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