Altcoin News: Ripple’s CTO: XRP Is Becoming More Decentralized Than Bitcoin (BTC) and Ethereum (ETH)

February 2nd, 2019 by Marko Vidrih on ALTCOIN MAGAZINE

In the area of ​​cryptocurrencies, the centralization of Ripple remains a sensitive issue, even though David Schwartz is determined to put the discussion to rest.

The decentralization of Ripple is increasing, is that true?

The Ripple’s XRP is being sharply criticized by those who claim it is too centralized. But the company’s CTO, David Schwartz, says that Ripple is currently seeking more decentralization to put an end to these allegations.

In the first episode of The Ripple Drop this year, they met with Schwartz, one of the original architects of the XRP Ledger. Regarding the biggest changes he has witnessed over the last year, he explains that it was an increase in decentralization. In his opinion, XRP actually becomes more decentralized than Bitcoin and Ethereum. The OG’s two currencies have several disadvantages due to their proof-of-work (PoW) algorithm (much higher latency is one of them, of course). Bitcoin defamers say the scalability of Bitcoin is not enough to keep Bitcoin number one on the market.

David Schwartz also said big banks will not trust XRP because they are control freaks.

According to Prajit Nanu, CEO of InstaReM, many financial institutions focus on making cross-border payments as fast as domestic payments. RippleNet ensures compatibility between different markets, allowing banks to process payments much faster. For example, the National Bank of Kuwait (NBK) recently launched its NBK Direct Remit Service, which allows almost instant bank transfers to Jordan.

Ripple’s team leader Jim Chauncey-Kelly states that they are currently looking for integration engineers to launch their products worldwide.

Author: Marko Vidrih

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