Brad Garlinghouse Does Not Think That Ethereum Is Ripple’s Competitor
Brad Garlinghouse Ripple(XRP) CEO – said at the World Economic Forum in Davos that his company did not compete with Ethereum (ETH), reports AMBCrypto.
Brad Garlinghouse discussed the future of blockchain and cryptocurrencies with Joseph Lubin from ConsenSys and the head of Hyperledger Brian Behlendorf. He claimed that it was senseless to estimate the progress made by the platforms basing on daily indicators. According to him, the market is still very young. He does not consider Ethereum as a competitor.
Then he said that, according to CoinMarketCap, XRP and ETH were often ranked second at the same time, but, in his opinion, they were not competitors. Moreover, he says that Ripple gains more and more support, however, it needs more transparency. Switching to decentralization topic, he highlights that even the word itself has a lot of nuances.
He added that Bitcoin and Ethereum were usually considered to be decentralized, but some aspects of their mining and recent 51% attacks were the problems requiring reflection on what decentralization is.
According to Brad Garlinghouse, Ripple is more centralized than the currencies supported by mining.
To conclude, he touched on bitcoins and said that bitcoin had problems with scalability and Proof-of-Work algorithm disadvantages. There are a lot of people who are trying to improve it, and maybe they will succeed, but, maybe, they won’t. Brad Garlinghouse can’t say that bitcoin will drop to zero. He still holds some bitcoins because they may be used as a mean of storage.