XRP Has Same Use Cases As Bitcoin, Ripple Director Asserts.
08 Jul 2021, 16:27
XRP Has Same Use Cases As Bitcoin, Ripple Director Asserts
Ripple’s native cryptocurrency, XRP, often gets a bad rep for having no real use cases, with some regulators going as far as to call it a security. In a series of tweets recently, the Director of Developer Relations at Ripple, Matt Hamilton, has attempted to set the record straight on the XRP cryptocurrency.
XRP’s Use Cases Are “Basically The Same As Bitcoin”: Matt HamiltonThe XRP Ledger has often been criticized for its apparent closed centralized nodes. Of the 156 validator nodes on the Ledger, 19 are notably Ripple nodes. This means that the company controls roughly 12% of the total nodes.
Questions of whether XRP is a real cryptocurrency are also another bone of contention for the crypto community. A Twitter user by the name @chazbot posited that he has not come across a suitable answer to the question: “What does XRP actually do?” The user added that the cryptocurrency is a useless, centralized bitcoin that no banks use.