Altcoins Cryptocurrency

Vitalik Buterin: XRP Is Better Sound Money Than Bitcoin

Pompliano Asked If XRP is More Decentralized than Bitcoin, Ripple’s CTO Gives Smart Reply

Ethereum’s Vitalik Buterin has is known as one of the influential people that have had positive words for Ripple’s XRP.

In fact, Vitalik’s love for XRP dates way back to 2013 when he described the then new coin as the new kid on the block. So far, the crypto has done well to retain his admiration.

The Tweet

Responding to Pierre Rochard’s research that alleges Bitcoin to be the best stable coin, Vitalik dropped a comment on twitter expressing his confidence that XRP is equally a good stable coin and could very well qualify as sound money. He even went on to throw in a few points to support his opinion that XRP is actually better than Bitcoin.

XRP Adoption And Partnerships

For starters, XRP has managed to score quite a few good points as far as institutional adoption is concerned. With its new payment solution that uses XRP as the base currency for cross-border transactions, Ripple has managed to entice various financial institutions to its RippleNet.

At the moment, Ripple has partnered with over 200 banks and other financial institutions across the world, and that customer base is bound to expand even more this year. As such, Vitalik argues that XRP, with its growing influence and adoption by institutions, could be better than Bitcoin.

Ripple’s xRapid To Out-Do SWIFT

Perhaps one of the most talked-about topics within the Ripple fandom is the company’s goal of overtaking SWIFT. Ripple’s approach has been to out-do SWIFT in all the technical aspects like transaction speed and fee structure.

With Ripple’s xRapid and xCurrent, financial institutions subscribed to the RippleNet can offer their customers much faster transaction processing for cross-border payments at a far lower cost than before. It’s noteworthy that although Bitcoin is also doing well in terms of adoption, it hasn’t quite attracted many institutions like Ripple and XRP have.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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Nick James

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