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Aug 05,2022

Ripple Exec - XRP was created as a "better Bitcoin"?

Matt Hamilton, former top executive of Ripple, stated that the XRP token is still in the top 5 because it works 100% and urged bitcoin fanatics to trade BTC on the XRP ledger.

If you say. Even by their own admission, it only works 95% of the time. Why do you think XRP Ledger is so popular and XRP is still in the top 5? Because it works. no drama No big problems to deal with. It just works. Really boring. And that's good*.

Hamilton, who works as chief developer advocate at blockchain firm Ripple, was involved in a debate with a critic who disputed the XRP use case. One user defends Bitcoin and its Layer 2 scaling solution, Lightning Network, via XRP Ledger.

Other Bitcoin proponents argue that very few people will own XRP because of its unregistered security. Hamilton replied that the use case of XRP is peer-to-peer payments because it was made to be a "better bitcoin."

The critic reiterated that "money settles with bitcoin" due to the arrival of the Lightning network, which he says is "decentralized payment of bitcoin with no fees, hard to fix." Hamilton then highlighted the failed LN transaction, which he said was caused by "lack of incoming liquidity".

“No, it failed due to lack of incoming liquidity. That's what the report said word for word. This is a major architectural weakness by LN. You should expect there to be enough liquidity in your payment channels."

Another user replied to Hamilton arguing that the payment failed because it was a paid transaction.

While the Lightning Network "only works 95% of the time," Hamilton continued, XRP Ledger "just works."

Over 516 million XRP has passed Ripple and other exchanges

Just a few days ago, data from Whale Alert showed that half a billion XRP was dumped en masse by Ripple and other top-tier exchanges. Whale Alert identified several consecutive transactions involving between 30 and 200 million XRP tokens. Transfers are made within 24 hours.

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