XRP Technology is Better Than Bitcoin’s, Cory Johnson Says
Ripple Inc has experienced considerable growth in 2018. Its recognition not only by institutions but also on a domestic level is quite remarkable, and day by day the community of XRP enthusiasts and followers seems to be stronger and more prominent.
According to Cory Johnson, Ripple’s Chief strategist, the reason for Ripple’s popularity is much more than just a propaganda operation. In a recent interview published by Steven Diep, Cory Johnson mentions that while Bitcoin is built with “poor technology” according to current standards, the development of XRP surpasses it in many respects:
-Bitcoin has some real technological limitations -The digital asset that show fundamental use cases will develop a fundamental value -XRP is being used more than Bitcoin being used as of today
For Mr. Johnson, one of the most important characteristics of Ripple’s blockchain is the number of transactions per second that every project can handle:
“Bitcoin has real technological limitations around how many transactions it can do per hour. Let alone…nobody even talks about per minute … XRP does 1500 transactions [per] second.“
The processing of a high number of transactions in the shortest amount of time is a crucial aspect to guarantee a massive adoption and scalability of the project in the future.
For Mr. Johnson, another problem in which XRP turns out to be a better blockchain is related to the energetic efficiency:
Mining is increasingly expensive … and consumes power … And also the way it [ineffectively distributes] power to the miners … presently, 80% of all bitcoin is being mined in China … XRP does not have mining.
Johnson also discussed his company’s growth and expectations:
“My company has over 150 customers in finance all over the world: Banks, remittance companies… Many of them are using XRP, all of them are not. [The token] Is being used to do transactions across borders [in order to] lower costs from 400 basis points to 40 basis points. And, from 4 days to two minutes.”
Faced with this series of answers, the interviewer asked Mr. Johnson if he considered then that Bitcoin had a poorer technology than that implemented by Ripple. The answer was obvious:
Do I think Bitcoin is a poor technology? Absolutely
Despite the statements of Mr. Johnson, it is important to note that Bitcoin is also having essential developments in its architecture. Being an open source platform, no central entity decides the destination or implementations to apply. The Lightning Network is especially important because if successfully developed, it could put Bitcoin back in a competitive position regarding Transaction processing per second.
Cory Johnson Talks About Stellar
In a subsequent tweet, Cory Johnson referred to Stellar, a project developed by a former member of this company that competes directly with Ripple’s technology solutions. While acknowledging the preparation of its CEO, Jed McCaleb, Mr. Johnson did not elaborate about the project:
“Stellar was created by one of the founders of this company, one of the original creators of XRP. I don’t really have an opinion about it. I mean, he is a super smart guy, but in order to build a really big business that uses digital assets, it’s a challenge. There are a lot of companies developing on XRP, I don’t know if many developing on Stellar Lumens other than Stellar“
There are a lot of companies developing on XRP, I don't know if many developing on Stellar Lumens