During the world economic forum in Davos, Ripple CEO brad Garlinghouse said that his company is not a competitor to Ethereum, according to AMBCrypto.
Debating with the head of the ConsenSys Joseph Lubina and head blockchain consortium Hyperledger Brian Behlendorf, Arlinghaus said:
"This is a marathon, not a short race. Therefore, judging the success of any platform by daily and hourly indicators is an empty idea. I think all the main platforms are working on interesting user-cases. I believe we are still in the early stages of development of this market, so I do not consider Ethereum as a competitor»
At the same time, he noted that according to the popular service CoinMarketCap, ETH and XRP often fight among themselves for the second line of the rating. Garlinghouse added the following to this effect:
"I don't think Ethereum is somehow a competition to what's going on in the XRP ecosystem. Are there coincidences? I'm sure you will, but I think you'll see it all after a while.»
Also, according to him, Ripple is gaining more and more support, but its ecosystem needs more transparency. Touching upon the topic of decentralization, Garlinghouse noted that the word itself implies many "nuances".
He added that before bitcoin and ether was considered to be decentralized, while Hasrat not concentrated to the large players of the market. According to him, the digital currency XRP, in fact, is much more decentralized than the coins, the networks of which are supported by miners.
Garlinghouse touched on the topic of bitcoin. According to him, the first cryptocurrency is rather a means of preserving value than a means of exchange. At the same time, in such parameters as scaling and transaction costs, XRP exceeds the first cryptocurrency.
"If you accept bitcoin in its current form, you are faced with limitations in the form of scalability issues and disadvantages of the Proof-of-Work algorithm. There are many people trying to improve it all. Perhaps attempts will succeed, and maybe not. I'm not ready to say that bitcoin tends to zero. I still have some bitcoins because they can serve as a means of preserving the value," the head of Ripple added.
