While many other cryptocurrencies are shaky, Bitcoin and XRP have captured their top position with a total market cap of $ 59,506,459,907 and $ 12,422,941,497 respectively.
David Schwartz talks about technology in preparation for adoption
The last podcast of David Schwartz, Ripple's Chief Technology Officer, discussed his vision, his career path and what motivated him to take Ripple and a digital resource at the center. During an interview with the Internet History Podcast, Schwartz warned why the cryptocurrency ecosystem needs to be improved. He strongly urged to improve the mechanism of blockchain and cryptography in view of its adoption by the masses.
He told the Internet History Podcast that "technology must be understood in detail" by referring to blockchain and crypto with the rise of the Internet. Schwartz said so;
"I do not want adoption to go beyond technology." It took a long time for the Internet to become the place where it was suitable for anyone using it and it was not necessary to understand the technology in detail to make it work. "
Digitization of money
He included his crypt asset & # 39; XRP & # 39; in a row of cryptocurrencies that is difficult to use. Schwartz aims further on the masses with the help of Google or Amazon to use bitcoins, XRPs and other cryptocurrencies more easily.
While talking about the digitization of money, he stressed that few activities are based on cryptography and how other assets work. He said that;
"It is not the case that one day there have been Bitcoin and before there was absolutely nothing.There were a number of efforts, some not based on cryptography, some based only on a central counterpart that would simply have withheld everyone's money and would provide an easy way to transfer people, and there was work on building systems that were a little more decentralized. "
Adding that today's cryptosystem no longer works on "trusted counterparts". In similar terms, he pointed out how the RipplePay and Hash Cash concepts lead Ripple and Bitcoin to create trust among millions of crypto-enthusiasts.
"Unlike traditional systems, the absence of a trusted party makes data transfer simpler and safer.The system was built on the idea that everyone in the ecosystem applies the rules and it is not only a governing body ".
Beyond that, he embraced Ripple and his vision. Schwartz said that the ripple runs with "a huge amount of attention" that eventually turned Ripple and its core technology as a primary means of international remittance.