Despite XRP facing a barrage of bearish pressure over the past many months, its core dev team has been working night-and-day to improve the currency’s base framework as well as its overall network functionality. In this regard, David Schwartz, the CTO of Ripple, recently went on to state that his team had been working overtime on the XRP ledger so as to improve its usability and transparency.
More On The Subject
During a recent interview with Joe Kaltz, Schwartz spoke at length about XRP’s ledger development activities over the past 12-14 months. As per the Ripple CTO, the currency’s ledger system has become “more decentralized” — so much so that the total number of transaction validations being handled by the parent company has now
“reduced quite significantly”.
As a result of these developments, more independent network operators have been afforded the freedom to work freely within the Ripple ecosystem.
— Ripple (@Ripple) February 19, 2019
Is XRP’s Network More Decentralized Than Bitcoin’s?
On the subject of BTC vs XRP, Schwartz mentioned that the core difference that existed between the XRP and Bitcoin network was their tx (transaction) processing capacity. Elaborating further on the matter, he noted that while the XRP Ledger made use of its very-own Consensus Protocol, Bitcoin made use of the Proof-of-Work (PoW) framework.
In addition to all this, David also added that in his opinion the “Bitcoin network had not been able to live up to industry expectations” — particularly from the standpoint its tx speed capabilities.
For those of our readers who may not be aware, when making use of Bitcoin, users have to wait anywhere between ”10 minutes to an hour for a transaction to be fully confirmed”. However, in the case of XRP, the same transaction can be completed within a matter of minutes if not seconds.
In rounding off his interview with Kaltz, Schwartz was asked about the future of XRP and how he believed the crypto ecosystem would evolve from here on out. In response, he said that moving forward, his biggest wish was to see the XRP community make better use of DEX platforms.
Lastly, David also went on record to state that by the end of the year, the global financial market will most likely start to see
“more proliferation of cryptocurrencies as well as stable coins”.