Ripples Matt Hamilton thinks Bitcoin has dimmed the light on XRP

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In response to a question posed by one of its supporters, Matt Hamilton, who was formerly Director of Developer Relations at Ripple, offered his thoughts on why Bitcoin (BTC) is more widely used and accepted than XRP. .

Why XRP Didn’t Trade Like Bitcoin

Hamilton seems to believe Bitcoin has dimmed the light of XRP. According to the developer, Bitcoin had the distinction of being the first cryptocurrency, but the XRP Ledger was years ahead of its time.

Bitcoiners’ first orchestrated Fear, Uncertainty and Doubt (FUD) efforts against XRP and the Financial Crimes Enforcement Network (FinCEN) action against Ripple delayed a lot of things, but XRP undoubtedly had a lot of challenges. advantages over BTC at that time. He said that in 2012 no one knew what a DEX was or what tokenization was.

Eleven years later, Bitcoin is the largest cryptocurrency in the world, while XRP is the sixth largest, and while the SEC-plagued token certainly hasn’t achieved what Bitcoin has, it has itself. even made some pretty impressive developments. And at the time of writing, the token is worth $0.4090 and has risen by 3.3% in the past week.

Many people started using XRP because it is an alternative to Bitcoin, and it has caused the price to skyrocket over the years. Ripple was created in 2011 by Jed McCaleb and Chris Larsen, and XRP is the cryptocurrency that Ripple uses as its native coin.

XRP has a total quantity of 100 billion tokens, and the cryptocurrency has been pre-mined. Compared to bitcoin, the token is more scalable, has a lower environmental impact, shorter transaction times, and lower overall costs.

Arguments have raged back and forth over the distinctions between XRP and Bitcoin. Both currencies have some commonalities, but there are also important variations, such as their scalability and consensus mechanisms.

Despite the many controversies, XRP has maintained its position as the leading cryptocurrency by market capitalization and has achieved several notable benchmarks.

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