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Ripple CTO Reacts to Ethereum's Vitalik Buterin's Misrepresentation of XRP

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Tue, 20/12/2022 - 10:43
Ripple CTO Reacts to Ethereum's Vitalik Buterin's Misrepresentation of XRP
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Ripple CTO David Schwartz has slammed Ethereum creator Vitalik Buterin for his misrepresentation of Ripple and XRP.

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Schwartz criticized Buterin for not understanding or pretending to be ignorant of the difference between Ripple and XRP.

"XRP has not apologized for claiming that Bitcoin and Ethereum are Chinese-controlled," the Ethereum creator said on a Bankless podcast.

"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," Schwartz reacted.

Despite the project's long history, many are still confused about the relationship between Ripple and XRP.

Ripple is a company building a payments infrastructure, crypto solutions and software for businesses and institutions. XRP is the native cryptocurrency of XRP Ledger (XRPL), an open-source, decentralized blockchain technology.

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Earlier this year, the Ethereum founder infuriated the XRP community by claiming XRP lost its right to protection after Ripple attempted to throw Ethereum under the bus as "China-controlled."

Buterin also claimed that XRP was "completely centralized" in the podcast. The centralization of XRP has been a topic of discussion, with some critics claiming that XRP is centralized or controlled by Ripple. Surprisingly, Ripple controls only 2 of 35 validators, accounting for less than 5.8% of its distributed computational power.

This comes as the XRPL Foundation removed two Ripple-controlled validators in October, while one new Ripple validator was added in a UNL update.

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