Ripple CTO, David Schwartz talks about the decentralization these days and the difference between XRP, BTC and ETH.
In the recent Ripple Drop interview, Ripple’s CTO, David Schwartz was asked for his opinion regarding XRP ledger's decentralization these days and how it is compared to Bitcoin and Ethereum.
The co-founder stated that the XRP ledger has seen an increased in decentralization during 2018, even more decentralized than either Bitcoin and Ethereum.
“The [XRP] network now is operationally decentralized in a way that those other cryptocurrencies aren’t,” he said.
He continued by answering the questions about the difference between XRP, BTC and ETH, saying that the biggest difference would be the proof-of-work versus consensus.
“Bitcoin and Ethereum use proof-of-work, which hasn’t delivered on the promise of decentralization the way consensus has,” he elaborated.
Schwartz also claimed that both BTC and ETH have much higher latency compared to XRP, with BTC he said to require 10 minutes to 1 hour to “become confident that the transaction has succeed” compared to just 5 seconds on the XRP ledger.
Prior to the interview, Ripple’s CEO, Brad Garlinghouse met with SWIFT CEO, Gottfried Leibbrandt for a “discussion” on the “Let’s Send the Money” panel at the Paris FinTech Forum 2019, during which he said Ripple’s high-speed transaction is "mathematically less risky" if compared to fiat’s long-duration, despite XRP’s high volatility.