Ripple ‘Isn’t Actually A Blockchain’ – Ethereum Co-Founder Downplays XRP, EOS

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Wilma Woo

ConsenSys discovered and Ethereum co-founder Joseph Lubin instructed mainstream media that Ripple “isn’t a Blockchain expertise” August 14, confirming it “isn’t a competitor” for Ethereum.


Lubin: Ripple ‘Isn’t Actually A Blockchain’

Chatting with Bloomberg in regards to the present state of the cryptocurrency market and Ethereum growth, Lubin delivered an attention-grabbing tackle two of the business’s greatest names.

Requested about what would occur if “different protocols which commerce pace or decentrazliation for safety” achieve favor within the mid to long-term, Lubin appeared unfazed.

“Ripple isn’t actually a Blockchain expertise, it’s form of a fee system, so I don’t actually contemplate competitor,” he instructed Bloomberg.

Persevering with on EOS zerozero, he described the challenge as “a barely, perhaps barely, decentralized strategy at constructing a Blockchain system.”

Lubin certified the time period “barely” by referring to EOS’ decision-making equipment, consisting of, as he put it, “twenty-one individuals who know each other.”

“EOS is an attention-grabbing expertise but it surely’s extremely harmful to deal with it as a layer-one expertise,” he continued, disagreeing his perspective was “geek converse for the dying of EOS.”

…And Ripple Agrees

Whereas each Ripple and EOS have confronted their justifiable share of criticism in current months, it’s Ripple which has produced a hazy narrative about its true USP even from its personal executives.

As Bitcoinist reported, chief cryptographer David Schwartz described the community as “not a distributed ledger” in phrases which echo Lubin, whereas additionally voicing doubts about uptake of the expertise from its goal market, the banking sector.

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