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, told in a recent interview that he doesn’t think about Ripple as a rival considering that it “isn’t really a Blockchain technology”.

In the meeting with Bloomberg, he spoke about the existing state of crypto market, Ethereum’s development and regarding Ripple’s XRP & EOS. When Lupin was asked exactly what would certainly happen if “various other methods which trade rate or decentralization for security” wind up getting favour in the mid to long-term, he appeared to be fairly tranquil regarding it.

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

He also described the factor behind his calmness, “Ripple isn’t really a Blockchain modern technology, it’s sort of a settlement system, so I don’t truly think about that a competitor.” He, after that went on to describe his viewpoint regarding one more significant crypto, EOS. He described EOS project as “a somewhat, maybe a little, decentralized technique at developing a Blockchain system.” Lubin continued, “EOS is an intriguing technology however it’s extremely unsafe to treat it as a layer-one technology.”

On the other hand, Lubin highly applauded Ethereum stating that in spite of the decline in cost, over the past 10 months, the programmer task in the environment increased by “2 orders of magnitude”. He added, “We really feel the rapid activity rise in our environment; it is overwhelming just what’s going on.”

In the meeting, he spoke about the recent downfall in the costs of electronic currency and also said that it will not constrain or adversely affect its development in the upcoming times. He has compared the value upsurge to a bubble which is similar to the formerly occurring “six huge bubbles, each even more legendary compared to 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 claimed,” I definitely expect that there is a strong relationship in between the increase in cost and the development of basic infrastructure in the ecological community and also the development of development in the community. We are most likely 2 orders of size larger as a programmer area than we were eight or 10 months earlier.”

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