The native token of the XRP Ledger blockchain, XRP, which is largely adopted by the crypto solutions company Ripple, has yet again been fired on by Vitalik Buterin. More so, the recent controversial opinions on the current sixth-largest crypto asset by market capitalization from the Ethereum founder come days after Charles Hoskinson blasted the XRP community.
While Buterin implied that XRP is centralized and should not be treated like a regular crypto asset, Charles Hoskinson said that XRP has no technical value.
In the latest Bankless Shows discussion session, hosted by Ryan Sean Adams and David Hoffman, the creator of the leading smart contract platform (Ethereum) Vitalik Buterin dropped a hot take on XRP which in turn provoked the XRP community.
While commenting on the surplus successes and failures recorded in the crypto industry in 2022 like the Terra (Luna) meltdown and FTX implosion, Buterin flaunted the opinion that XRP is “completely centralized”, citing that it should be treated as regular crypto. This assertion could stem from the fact that the XRPL founders sent 80% of XRP’s supply to the cross-border payment firm Ripple at the creation of the digital asset.
In several instances, Buterin has always shown no support for XRP, especially in the ongoing lawsuit where the U.S. SEC argues that the coin is a security. Analyzing his numerous remarks regarding XRP, Vitalik Buterin’s resentment against the XRP community started when Ripple lawyers labeled Ether (ETH) a China-controlled digital asset in one of their court filings.
“The only qualification to be able to call yourself part of the crypto space is to somehow use cryptography and to have some change in the data structure. Those are literally the qualities to call yourself decentralized; you don’t even need decentralization… like XRP, you know, they’re still completely centralized,” Vitalik remarked. Furthermore, he added that the XRP community “hasn’t apologized for writing documents to the US government basically saying that they should be favored over Bitcoin and Ethereum because Bitcoin and Ethereum are China controlled.”
Recall that on August 18, he said, “XRP already lost their right to protection when they tried to throw us under the bus as China-controlled IMO.”
Read More: Vitalik Buterin Reveals Reason For Resenting Ripple and XRP, David Schwartz, John Deaton Respond
Of course, Buterin’s stance was provocative to the XRP community, leading to several reactions from members like David Schwartz, the Chief Technology Officer at Ripple. The Ripple CTO wrote, “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.”
Earlier on, Charles Hoskinson frowned at the behaviors thrown at him by some members of the XRP community following his comments about a rumored settlement in the Ripple vs SEC lawsuit. As reported, Hoskinson remarked that a source familiar with the lawsuit said the case would be resolved on December 15. However, this turned out to be false, causing some users to attack the Cardano founder.
In consequence, Hoskinson said on Saturday that he would distance himself completely from everything XRP, citing that the XRP community is toxic and petty. In furtherance, he said his response to any XRP question would henceforth be ‘no comment.
“There is no point inviting toxicity into your life. It’s abusive and pointless. Even in saying it now there are mocking baby memes. Life is too short. Move on and cut it out. XRP provides no partnership or technical value. The community is toxic and petty. I can live without it,” he tweeted.
Read Also: XRP Lawsuit: Judge Grants Ripple Recent Request But Partly Denies the SEC Motion
Meanwhile, Hoskinson does not believe that XRP is a security and his previous comments indicate that he wants Ripple and its two executives to scale through in the longstanding XRP lawsuit.
Follow us on Twitter, Facebook, Telegram, and Google News
Binance, the world’s largest cryptocurrency exchange by trading volume, has temporarily halted XRP withdrawals, citing…
Today, November 16, XRP attained a key benchmark after reaching $1, marking a significant moment…
In a strategic move to expand its presence in the French cryptocurrency market, Cayman Islands-based…
The crypto market offers a golden chance right now. Major coins show strong recovery signals…
A recent analysis by prominent cryptocurrency analyst EGRAG CRYPTO (@egragcrypto) shed light on the potential…
Fox Business journalist Eleanor Terrett reported on November 15, 2024, that a group of Republican…