Making the case for Ripple versus Bitcoin and Ethereum

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Ben

Joined
May 2017
From
Colorado
I've noticed not everyone believes in Ripple, even though I look at the use case for Ripple/XRP and see how obvious it will succeed. Ripple is not a cryptocurrency project. Banks will use the technology and will stay away from Bitcoin for as long as they can. Because we all know this, XRP doesn't win over speculators easy. But I think they hate Ripple for the wrong reasons. Ripple, and its digital asset, have never tried to position themselves as a cryptocurrency. it's not an asset designed for consumer use. Ripple will be used by banks, as a solution for cheaper cross-border transfers.

Let's look at things from a regulatory perspective. Ripple makes more sense than Bitcoin and Ethereum. Yes, Bitcoin and Ethereum will continue to thrive in their own way. Bitcoin will probably face the most opposition in the world as it charts out its path. I don't know if Ripple will ever overtake Bitcoin in market capitalization, but Ripple and XRP will have a significantly easier time with gaining partnerships and bank approval.

We are in the very early days of distributed ledger technology. Banks are perfectly fine adoption a solution that is not Bitcoin. Just because Ripple is tailored to the financial sector doesn't mean we should label Ripple as something evil or bad. But this all stems from the diehard cryptocurrency users who want absolutely nothing to do with banks, which I understand. They hypocrisy here is the same people are using banks to convert their fiat to cryptocurrency and vice versa. And because of Ripple, these transfers will have faster transaction times and lower costs.

Ripple, Bitcoin, and Ethereum complement each other in their own ways. All 3 of these cryptocurrencies will succeed as the entire blockchain ecosystem continues to grow.
 

evo

Site Admin
Joined
Apr 2017
Ethereum: A contract based cryptocurrency, where execution of contract code is guaranteed (code is law).

Ripple: A transaction based cryptocurrency designed to unlock IOV (Internet of value). It enables congestion free global value movement and extends ultra-low transaction cost to payments of all sizes (micro/macro) - in near real time.

Ethereum and Ripple have 2 completely different use cases:

Ethereum Use Cases: Casino, coupons, shopping vouchers, game and prize exchanges, lotto and lotteries, hotel reservations, service vouchers, loyalty card and points, short term insurance contracts, enterprise contracts base settlement etc.

Ripple Use Cases: Payments, Remittances, Forex, Trades Settlements, Banking Platforms (some have dubbed this Fintech 2.0), exchanges, Next-gen Trading platforms, Ultra-low cost real-time money/IOU movement, Domestic and International transfer services, Complex trust and intermediary channels, Real time global pay outs etc.
 
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