Vitalik Buterin, the architect of Ethereum, has come under fire from Ripple CTO David Schwartz for misrepresenting Ripple and XRP. Buterin was criticized by Schwartz for either not knowing or feigning ignorance of the distinction between Ripple and XRP.
Vitalik Buterin, a co-founder of Ethereum (ETH), was the most recent visitor on Bankless. David Hoffman, a co-owner of Bankless, first urged Buterin to consider the previous year and all the lessons discovered in 2022. Buterin retorted that 2022 would be a challenging year. And it was, in fact.
The 28-year-old programmer acknowledges that there were a number of unpleasant “blowups,” but feels it is important to focus on the positives. Buterin lists the “merge” of Ethereum as one of the benefits of 2022. The community spent a long time preparing the network to switch to a Proof-of-Stake (PoS) consensus paradigm. Buterin emphasized how the switch cut Ethereum’s energy use by 99.9%.
Buterin also mentioned that zkEVM’s year was 2022. Many zkEVM projects are predicting mainnet debut by the end of the year, which is no longer simply a “pipe dream.”
But even without including cryptocurrency, 2022 has not been a particularly wonderful year for the banking industry. Nearly 60% of the value of ETH has been lost so far this year. The “merge” was a technological success, but it had minimal impact on the price movement of ETH. Many referred to the action as a “sell the news” instead.
Buterin’s Comments On Ripple Hectors Situation
The Ethereum creator said on the Bankless podcast,
“XRP has not apologized for claiming that Bitcoin and Ethereum are Chinese-controlled.”
To which Schwartz reacted by saying,
“All this time, and he still doesn’t understand, or is pretending not to understand, that Ripple is a company and XRP is a digital asset, He thinks XRP can say things.”
Despite the extensive history of the project, many people are still unsure of the connection between Ripple and XRP. For corporations and organizations, Ripple is a company that develops software, crypto solutions, and a payments infrastructure. The native coin of the open-source, decentralized blockchain technology known as XRP Ledger (XRPL), is called XRP.
The creator of Ethereum earlier this year outraged the XRP community by asserting that XRP lost its right to protection after the firm tried to paint Ethereum as being “China-controlled.” In the podcast, Buterin also asserted that XRP was “totally centralized.” The centralization of XRP has been a subject of debate, with some detractors asserting that the firm controls or centralizes XRP. Surprisingly, just 2 out of 35 validators are within the firm’s control, making up less than 5.8% of its distributed computational power.
This occurs after the XRPL Foundation eliminated two Ripple-controlled validators in October, but a UNL upgrade added a single new Ripple validator. #XRP #Ripple News