CandleFocus Ex-Ripple Developer: XRP Ledgers First Use Case was to Tokenize BTC
2024-12-03
Author: Content Editor
During a discussion between Bitcoin advocate Jeremy Davinci and former XRP developer Matt Hamilton, concerns were raised about Bitcoin's scalability issues. Hamilton pointed out that Bitcoin's low transaction capacity hinders its utility, and scaling options like layer-2 solutions or custodial services go against its decentralized nature. He also mentioned the unsustainable transaction fees and how they will make Bitcoin accessible only to wealthy individuals and institutions. Hamilton praised the XRP Ledger as a more scalable and cost-effective alternative to Bitcoin, highlighting that it was designed by Bitcoin developers who understood the drawbacks of the system. The Ledger offers faster, low-cost transactions without sacrificing decentralization and was initially created to tokenize Bitcoin for more efficient transactions.
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