Cardano founder: XRP has never been a competitor to ETH, the two do not belong to the same category

Odaily News Some crypto enthusiasts believe that Ripple and XRP are competitors of Ethereum in the crypto field. However, Cardano founder Charles Hoskinson said that XRP does not belong to the same category as Ethereum, let alone become a threat to Ethereum. Hoskinson pointed out the fundamental difference between the makeup of XRP and ETH. He pointed out that there is a lack of smart contracts in the XRP ecosystem and no focus on the PoW consensus mechanism. Ripples goal is to cooperate with banks to promote remittance business. Hoskinson believes that other projects such as Nxt and Bitshares pose a greater threat to Ethereum than XRP. Therefore, the claim that members of the Ethereum community allegedly bribed members of the U.S. regulatory agency not to crack down on ETH but to pursue XRP (the SEC had previously sued Ripple and considered XRP a security) is groundless in Hoskinson’s view. (Coinedition)