Monday, November 23, 2020
No menu items!
  • News
  • Bitcoin
  • Cryptocurrency
  • XRP News
  • Contact Us
More

    Ripple CTO: BTC, ETH, and XRP Holders Only Defend the Assets For Personal Gains

    Must Read

    Ripple Has Officially Added Bank of America (BoA) to the List of Top RippleNet Members on Its Website

    Ripple, the San Francisco based blockchain firm, has now officially included Bank of America (BoA) on the list of...

    Crypto Strategist Scott Melker displays His Bullishness on ADA, ETH, LTC, XRP and Three Others

    A cryptocurrency analyst, Scott Melker, popularly known in the crypto industry as Wolf Of All Streets, has revealed he’s...

    Analyst Says Ethereum (ETH) Could Target $850 Once It Surmounts This Key Resistance

    Virtually all the cryptocurrencies in the market have been enjoying the current price rally that was started by Bitcoin...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    The Chief Technical Officer (CTO) at Ripple, David Schwartz has stated that the level of rivalry in the cryptocurrency sphere is negatively impacting the growth and development of the industry at large.

    Schwartz said this during the virtual Blockdown 2020 conference. In his opinion, cryptocurrency holders defend their preferred digital assets for what they stand to gain.

    Ripple CTO also stressed the implication of the usual practice of crypto holders in choosing only the most beneficial digital assets, while they speak ill of other innovations.

    He further pointed out the reason why the Bitcoin (BTC) investors may not wish for the improvement of other cryptocurrencies.

    Read David Schwartz’s statement below:

    “I think the one thing that is kind of surprising to me is the sort of hostility to innovation in a lot of the space. A lot of that comes from people who have invested heavily in a project. I can’t talk about the cryptocurrency space without facing the reality that if you think Bitcoin is gonna take over the world, you probably own some Bitcoin.

    “If you think Ethereum is going to take over, you probably own some Ether. If you think the XRP ledger is the greatest thing in the world and everyone’s gonna use it for everything, you probably hold some XRP.

    “If someone tells you, ‘Hey, Bitcoin has this problem or Ethereum has this problem, or the XRP ledger has this weakness,’ if they’re right, then you will perceive yourself as losing money.

    “What happens is people dig in very, very deeply and nobody is invested in the project that doesn’t exist yet, and so there’s this sort of hostility to innovation.”

    “The Lightning network is something that enhances Bitcoin’s usability and so, if you’re a Bitcoin maximalist, you like the Lightning Network. It is good innovation, whereas if Ethereum is improving its scalability, and you could perceive that as a threat to Bitcoin. You would sort of perceive that as bad innovation.”




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Ripple Has Officially Added Bank of America (BoA) to the List of Top RippleNet Members on Its Website

    Ripple, the San Francisco based blockchain firm, has now officially included Bank of America (BoA) on the list of...

    Crypto Strategist Scott Melker displays His Bullishness on ADA, ETH, LTC, XRP and Three Others

    A cryptocurrency analyst, Scott Melker, popularly known in the crypto industry as Wolf Of All Streets, has revealed he’s bullish on seven altcoins, including...

    Analyst Says Ethereum (ETH) Could Target $850 Once It Surmounts This Key Resistance

    Virtually all the cryptocurrencies in the market have been enjoying the current price rally that was started by Bitcoin (BTC), the largest cryptocurrency by...

    Ripple Moves to Bring XRP Ledger to the World of Central Bank Digital Currencies (CBDCs)

    Considering the latest job listing, Ripple, the San Francisco based cross-border payment firm, is moving to bring XRP Ledger to the world of Central...

    Some Analysts Predict $2.00 for XRP, but Crypto Michael Has A Little Different Opinion

    XRP, the third-largest cryptocurrency by market capitalization, has been experiencing a positive price trend over the past week, which gives its faithful traders and...

    More Articles Like This