Ripple’s XRP ‘isn’t a competitor’ since it ‘isn’t really a Blockchain technology’: Ethereum co-founder 21098
News
Pinaz Kazi
Aug 17, 2018 at 1:49 PM

Ethereum co-founder, Joseph Lubin, told in a recent interview that he doesn’t consider Ripple as a competitor since it “isn’t a Blockchain technology”.

In the interview with Bloomberg, he spoke about the current state of crypto market, Ethereum’s development and about Ripple's XRP & EOS. When Lupin was asked what would happen if “other protocols which trade speed or decentralization for security” end up gaining favour in the mid to long-term, he appeared to be quite calm about it.

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

He even explained the reason behind his calmness, “Ripple isn’t really a Blockchain technology, it’s sort of a payment system, so I don’t really consider that a competitor.” He, then went on to explain his point of view regarding another major crypto, EOS. He described EOS project as “a slightly, maybe slightly, decentralized approach at building a Blockchain system.” Lubin continued, “EOS is an interesting technology but it’s incredibly dangerous to treat it as a layer-one technology."

Meanwhile, Lubin highly praised Ethereum saying that despite the decline in price, over the past ten months, the developer activity in the ecosystem expanded by “two orders of magnitude”. He added, “We feel the exponential activity increase in our ecosystem; it is overwhelming what’s going on."

In the interview, he spoke about the recent downfall in the prices of digital currency and said that it will not constrain or negatively impact its growth in the upcoming times. He has compared the value upsurge to a bubble which is similar to the previously occurring "six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening.

See also: Ripple targets China for blockchain based cross border transaction; plans further expansion

He said,"I absolutely expect that there is a strong correlation between the rise in price and the growth of fundamental infrastructure in the ecosystem and the growth of development in the ecosystem. We are probably two orders of magnitude bigger as a developer community than we were eight or 10 months ago.”

Image via Google

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