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XRP as a Better Bitcoin?
The XRP Ledger, whose native coin is XRP, has been operational for almost a decade, according to Matt Hamilton, a former Principal Developer Advocate at significant fintech company Ripple. Hamilton made the remarks in a Twitter conversation with a different user who supported Bitcoin and its layer-2 scaling solution, the Lightning Network, over the XRP Ledger.
The user argued that the popularity of Bitcoin is making the XRP Ledger-based payments network useless and questioned the use cases for the cryptocurrency. Hamilton responded by pointing out that XRP was designed as a better Bitcoin and that its use cases include peer-to-peer payments. The user replied that Lightning provides immediate decentralized bitcoin payments for no cost, which is difficult to improve upon, and that with Bitcoin money is solved. Therefore, whatever XRP decides to do in the end, it is best to do it quickly.
The XRP Ledger Simply Works
Hamilton responded by citing a failed transaction that occurred on the Lightning Network due to a lack of incoming liquidity. He said that the Lightning Network had a fundamental architectural problem because users must hope there is enough liquidity to route their payments. Hamilton was informed by another user that the transaction was previously paid for and that the payment had really failed.
While the Lightning Network only works 95 percent of the time, Hamilton said that the XRP Ledger simply works. The user was advised by Ripple’s former Principal Developer Advocate to simply transact their BTC on the XRP Ledger since it has been reliable 100% of the time for the past ten years. XRP bull Hamilton has previously claimed that the XRP Ledger was the very first DEX, which is also known as a decentralized exchange, and the first blockchain to enable the tokenization of assets.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
