XRP, BTC Make Almost Perfect Cryptocurrency: Prominent Crypto Analyst

Bitcoin and XRP are among the top three cryptocurrencies and both are currently most popular coins with loyal and supportive communities. A guest Forbes and CNBC trader and a popular Bitcoin analyst on TradingView, Jacob Canfield, says that they lack just a little to be rightfully called perfect cryptos.

‘Three aspects that make the perfect cryptocurrency.’

When talking to the crypto analyst Scott Melker, Jacob Canfield says that a perfect cryptocurrency must have three crucial aspects – be secure, scalable and decentralized. Both BTC and XRP lack just one aspect of those, as per him.

He believes that BTC can make a great store of value and XRP could be used as a medium of exchange.

Three aspects that make the perfect cryptocurrency.
- Security
- Scalability
- Decentralization$XRP has 2/3$BTC has 2/3

One can be a great store of value and the other a medium of exchange.

— Jacob Canfield (@JacobCanfield) December 27, 2019

Answering a question, in the next tweet Canfield points out that XRP lacks decentralization. The latter is very important for crypto, he says, as it makes it secure and non-censorable.

Decentralization is very important in that it is immutable, non-censorable.

If you can arrest a CEO or shut down a server farm to control the cryptocurrency, then it is centralized.

This is why Bitcoin is the BEST in terms of security due to the strength of its network.

— Jacob Canfield (@JacobCanfield) December 27, 2019

As for Bitcoin, its well-known issue that many would like to see solved is lack of scalability.

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A crypto analyst gets paid in XRP

The initial tweet came in response to a post made by Scott Melker who shared that he had received a payment in XRP and said that this coin works extremely fast.

Someone just sent me a payment with $XRP. One thing is for sure, it's insanely fast.

— The Wolf Of All Streets (@scottmelker) December 27, 2019