Ripple — creators of a real-time gross settlement system, currency exchange and remittance network primarily aimed at connecting banks, payment providers, digital asset exchanges and corporates — has acknowledged that its digital asset, XRP, is not the be-all-end-all in the cryptocurrency marketplace.
David Schwartz, chief technology officer at Ripple, was asked about the limitations facing the XRP Ledger in a TNW Answers session earlier this week, where he surprisingly was not afraid to admit that XRP is not the ultimate blockchain-based solution.
‘We’re All In This Together’
Schwartz himself is actually invested in Bitcoin, he explained during the TNW Answers session — and thinks that the collaboration between cryptocurrency projects may be more beneficial than competing for dominance in the marketplace.
A Steady Decline
XRP, like many other major market players, has had a rough 2018. After reaching all-time highs of roughly $3.81 per coin in the first week of January, the third-ranked cryptocurrency has steadily declined.
At the time of this writing, XRP is trading at $0.33 per coin.
What do you think about Ripple CTO David Schwartz’s statements regarding the limitations of the XRP Ledger? Do you think the value of XRP will ever reach its previous highs? Let us know your thoughts in the comments below!
Image courtesy of Shutterstock, CoinMarketCap.
Top crypto platforms | July 2024
Trusted
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Advertorial
Advertorial is the universal author name for all the sponsored content provided by BeInCrypto partners. Therefore, these articles, created by third parties for promotional purposes, may not align with BeInCrypto views or opinion. Although we make efforts to verify the credibility of featured projects, these pieces are intended for advertising and should not be regarded as financial advice. Readers are encouraged to conduct independent research (DYOR) and exercise caution. Decisions based on...
Advertorial is the universal author name for all the sponsored content provided by BeInCrypto partners. Therefore, these articles, created by third parties for promotional purposes, may not align with BeInCrypto views or opinion. Although we make efforts to verify the credibility of featured projects, these pieces are intended for advertising and should not be regarded as financial advice. Readers are encouraged to conduct independent research (DYOR) and exercise caution. Decisions based on...
READ FULL BIO
Sponsored
Sponsored