Ripple Chief Technical Officer, David Schwartz who is said to be the brain behind the cryptocurrency idea is today referred to as XRP, has told the world he’s “the anti-Satoshi”.
The cerebral Ripple employee, that earlier claimed XRP was conceived before the launch of Ripple Labs Inc., said Proof-of-Work (PoW), the original consensus algorithm in a Blockchain network, “perversely, favors liveness over safety and has no partition tolerance at all”.
He said this in response to the CEO Ava Labs and Professor at Cornell University, Emin Gün Sirer, who averred the PoW was the only robust way to build consensus protocols, before his firm launched the Avalanche protocol.
“Let’s not forget the impact PoW has on the environment. Until recently, PoW was the only robust way to build consensus protocols, but after the Avalanche protocol was unveiled, working on PoW is anachronistic.”
An XRP supporter kicked against Emin’s assertion, saying XRP has been in existence since 2012, and has a robust consensus protocol.
The XRP Supporter puts forward: “XRP has been around since 2012, which isn’t “recent”. Are you saying that its consensus protocol is not robust? If so, why do you say that?”
In response, Emin said he suspected “Ripple’s professional, centralized management of the vast number of nodes in the network has helped keep the network up”, noting that Stellar, which makes uses of a similar design experienced a “liveness failure just this year”.
David Schwartz, however, responded, saying Satoshi Nakamoto erred but the most amazing thing the Bitcoin initiator did was that he realized a system having those properties could be useful.
Owing to this, he said Ripple’s XRP solved the problem by introducing a better node validator, solving the inherent Bitcoin problems in a traditional way.
“To some extent, I’m the anti-Satoshi by solving the same problem in a much more traditional way, favoring safety and offering partition tolerance,” David said.