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XRP, BTC Make Almost Perfect Cryptocurrency: Prominent Crypto Analyst

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Sat, 12/28/2019 - 08:46
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Yuri Molchan
Jacob Canfield, a popular analyst on TradingView, says that XRP and BTC could make perfect cryptocurrencies but they are short of only one thing
XRP, BTC Make Almost Perfect Cryptocurrency: Prominent Crypto Analyst
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Contents

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.

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.

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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.