Cardano founder: XRP is not a competitor to ETH, they do not belong to the same category

2023-10-14 17:55:06

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ChainCatcher news, according to Coin Edition, some crypto enthusiasts believe that Ripple and XRP are competitors to Ethereum in the crypto space. However, Cardano founder Charles Hoskinson stated that XRP and ETH do not belong to the same category, let alone be a threat to Ethereum.

Hoskinson pointed out that the fundamental difference between XRP and ETH lies in the lack of smart contracts in the XRP ecosystem, and it does not focus on the PoW consensus mechanism. Ripple's goal is to collaborate with banks to facilitate remittance services.

Hoskinson believes that, in comparison, other projects like Nxt and Bitshares pose a greater threat to Ethereum than XRP. Therefore, the claims regarding members of the Ethereum community allegedly bribing U.S. regulatory officials to avoid targeting ETH and instead pursue XRP (the SEC previously sued Ripple and deemed XRP a security) are, in Hoskinson's view, unfounded.

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