Ripple Drop: XRP Ledger has delivered its promise of decentralization while Bitcoin and Ethereum have failed

Ripple has entered the year 2019 very strong in terms of its partnerships and product placements as a few banks went live with xRapid product for cross-border payments.

During the recent Ripple Drop episode, David Schwartz, the CTO of Ripple and one of the architects of the XRP Ledger, Prajit Nanu, co-founder of InstaReM, and Jim Chauncey Kelly, Director of talent acquisition at Ripple spoke about XRP Ledger, Ripple Net, decentralization of cryptocurrencies, and Ripple’s open positions around the world.

David Schwartz spoke about an increase in decentralization as compared to Proof-of-Work-based cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH]. Schwartz said that over the course of last year, decentralization has definitely increased. He said:

“The network now is operationally decentralized in a way that those other cryptocurrencies just aren’t… The biggest difference between Bitcoin, Ethereum and the XRP Ledger is the PoW vs Consensus. Bitcoin and Ethereum use PoW which hasn’t delivered on their promise of decentralization the way consensus has.”

He continued that the latency of PoW coins was too high and in the range of 6-10 mins as compared to XRP Ledger’s 4 second settlement time. Moreover, consensus algorithm for XRP, unlike PoW can’t have problems of scalability in XRPL as it has second layer solutions like payment channels and the ledger can handle well over 50,000 TPS.

InstaReM allows cross-border payments for its customer using RippleNet solution integration. The co-founder, Prajit Nanu, stated:

“The focus has now been on how fast a payment can be sent. Ripple Net allows us to that. Ripple Net allows us to build partnerships and relationships and with multiple markets and enable those relationships to process payments faster.”

Jim Chauncey Kelly spoke about Ripple’s open roles around the world and confirmed that there were more than 40 open roles. He added that “Integration Engineers” role is essential to help Ripple’s customers for on-site implementation of their products.

@mistatee2015, a Twitter user commented:

“Listening to David speak is almost like hearing poetry – it flows, has simplicity but so much intelligent depth without trying. I am neither a poet nor a programmer but I can appreciate and I am in awe”

Another Twitter user, @cryptofrank78 commented:

“These videos are a bit weak. Basically one sentence from each person. I think it should be a bit longer – 10 to 20 minutes. I want to learn more.”