Ripple's Chief Technology Officer, David Schwartz, has publicly responded to an attack on XRP from a prominent Litecoin influencer. The exchange began when the influencer questioned XRP's utility and long-term viability, particularly in an environment where stablecoins are gaining traction. The influencer's comments also included claims about the XRP Ledger's on-chain activity and its ability to compete with other networks. In a detailed response on social media, Schwartz directly addressed the criticisms, defending the fundamentals of XRP and the broader XRP Ledger ecosystem.
A Defense of Utility and Decentralization
Schwartz's rebuttal centered on a few key points. He addressed the notion that stablecoins could replace XRP as a bridge asset, arguing that a single stablecoin is unlikely to dominate the global market due to regulatory fragmentation and jurisdictional issues. He contended that in a "multi-stablecoin world," a bridge asset like XRP remains essential for settling the "long tail" of various tokenized assets and securities. On the issue of centralization, Schwartz firmly stated that Ripple does not control the XRP Ledger, which operates with over 1,000 nodes and 100 independent validators. He also tackled the criticism about slow on-chain adoption, explaining that while some institutions prefer off-chain solutions, the ongoing development of features like permissioned domains will make the XRPL more compliant and viable for institutional use.
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Ripple CTO Hits Back at Litecoin Critic
Ripple's Chief Technology Officer, David Schwartz, has publicly responded to an attack on XRP from a prominent Litecoin influencer. The exchange began when the influencer questioned XRP's utility and long-term viability, particularly in an environment where stablecoins are gaining traction. The influencer's comments also included claims about the XRP Ledger's on-chain activity and its ability to compete with other networks. In a detailed response on social media, Schwartz directly addressed the criticisms, defending the fundamentals of XRP and the broader XRP Ledger ecosystem.
A Defense of Utility and Decentralization
Schwartz's rebuttal centered on a few key points. He addressed the notion that stablecoins could replace XRP as a bridge asset, arguing that a single stablecoin is unlikely to dominate the global market due to regulatory fragmentation and jurisdictional issues. He contended that in a "multi-stablecoin world," a bridge asset like XRP remains essential for settling the "long tail" of various tokenized assets and securities. On the issue of centralization, Schwartz firmly stated that Ripple does not control the XRP Ledger, which operates with over 1,000 nodes and 100 independent validators. He also tackled the criticism about slow on-chain adoption, explaining that while some institutions prefer off-chain solutions, the ongoing development of features like permissioned domains will make the XRPL more compliant and viable for institutional use.