XRP is Bitcoin [BTC] 2.0, provides privacy for banks, says Ripple's Chief Market Strategist

Bitcoin [BTC]The scalability problems have now become a topic of discussion, with the debate in August 2017 on the resizing of the protocol that becomes relevant again. It is said that the closest solution for the resizing of the blockchain known as Lightning Network is ready only in 2020. This therefore creates an interesting situation for the most widespread cryptocurrency, as it now operates constantly with a capacity of more than 90% with thousands of transactions not confirmed.

Cpple Johnson, Ripple's Chief Market Strategist, recently spoke about the problems Bitcoin was facing, proceeding to position XRP as "Bitcoin 2.0". He talked about how certain "intelligent people", like Paul Krugman, have vocally criticized the blockchain and the lack of development in "all cryptic things". Has elaborated:

"What they will do is, they will indicate the blockchain and they will say [it] it does not work at all. It takes 20 minutes to make a transaction on Bitcoin. Feel the move there, the blockchain does not work at all [to] Bitcoin does not work well. "

Johnson stated that saying this was like saying the horses were "poor" for fast transport without considering other forms of transport. He also said that Ripple saw XRP as "Bitcoin 2.0", as it has a different idea of ​​what consensus is. In addition, he also claimed to make between 1500 and 2000 transactions per second, comparing it with Visa rather than Bitcoin. He has declared:

"The guys who made XRP, they looked at the white paper that Satoshi wrote about Bitcoin and they said it's great, this could be reasonable on a scale, but what the problems would be.There might be problems asking for an opening total in each transaction. "

This is due to financial institutions, banks and businesses that do not want their transactions "to be out there so people can see who they are," Johnson said. Has elaborated:

"They want some sort of privacy but they want some of the protections that an open network can have and XRP provides it."

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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and an interest in the future of blockchain and cryptocurrency technology. At the moment it does not have any cryptocurrency.