Ripple Labs’ chief strategist Cory Johnson has asserted that XRP is more widely used compared to Bitcoin and that its underpinning technology is weak.
Drawing comparison between Ripple’s XRP token and other leading digital currencies in the market including Bitcoin (BTC) and Stellar (XLM), Johnson outlined multiple points in a recently published video footage on Twitter, including XRP’s centralized nature and Ripple network’s state of adoption.
-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
— Steven Diep (@DiepSanh) November 23, 2018
In a recent report published by sludgefeed.com, Johnson placed emphasis on the Chinese miners’ significant influence and control over the Bitcoin network, as he debunks claims made by Bitcoin maximalists positing that pre-mined XRP tokens are centralized and are therefore antithetical to the entire purpose of blockchain technology.
Johnson continued further, stating that Bitcoin was anchored suffers from scalability issues as it was anchored on “poor technology,” as opposed to XRP which is proven to be capable of facilitating over 1,500 transactions per second. According to him, XRP’s was designed to scale up and be integrated into financial systems.
The Ripple executive also took a jab at Stellar, stating that there are not that many enterprises using the rival blockchain for development.
Regardless of Johnson’s perspective, XRP’s market performance over the last several months has so far been exceptional, considering the long-standing bearish trend across the crypto markets.
In October, XRP’s value had inflated by nearly 50 percent following a number of developments in recent months, including the previous launch of the firm’s xRapid platform, and the significantly growing number of new financial institutions joining RippleNet network.
Amid the crypto markets’ nearly year-long bear run, XRP’s value continues to surge, holding its value steadily when the rest of the markets continue to plunge over the last 10 days, with Bitcoin Cash dragging down the entire market.
XRP has also recently toppled Ethereum as the second largest digital asset by trading volume earlier this week after momentarily taking the second spot several times within the year.
While Johnson’s perspective leans more towards the extreme, he did make a solid point vis-à-vis the wealthy investors’ massive influence on the crypto industry, which was evident after Bitcoin Cash’s recent hard fork resulted in a massive price plunge, including that of Bitcoin.