Former Ripple Director Says XRP is A Better Crypto Asset than Bitcoin, But How?

Matt Hamilton, the former director of Developer Relations at RippleX, thinks XRP is a better crypto asset than Bitcoin, which is the largest by market size.

In a recent interview on Mr. M Podcast, Hamilton compared the two cryptocurrencies, focusing on their scalability and practicality.

Hamilton explained that developers built XRP for large-scale use. However, Bitcoin struggles in this area because its most significant issue is limited scalability.

Bitcoin is Limited by Scalability Issues and High Fees As Compared To XRP

According to Hamilton, Bitcoin can only handle 7 to 10 transactions per second, making it hard to use globally. He also explained that due to Bitcoin's limitations, each person on Earth could only do about two transactions in their lifetime using Bitcoin.

Therefore, to improve Bitcoin, additional systems like Layer-2s or custodial networks would be needed to increase the speed. However, Hamilton believes using these systems could go against Bitcoin's core principles.

In contrast, the developers built the XRP Ledger (XRPL) to handle many more transactions. Last year, XRP's network improved,raising its transaction speed from 1,500 to3,400 transactionsper second.

The former Ripple director also highlighted high transaction fees as another problem with Bitcoin. He said these fees are already high and will keep increasing as mining rewards reduce over time.

Due to this, he thinks that in the future, only banks and wealthy investors might be able to use Bitcoin regularly. It could become too expensive for everyday people to use. Meanwhile, users can efficiently run transactions on XRP because it costs only about $0.0002.

Hamilton Debunks XRP Freezing Claims, Highlighting XRPL's Unique Security Feature

Hamilton denied the idea that XRP can be frozen on the XRP Ledger. He shared this after the host of Mr. M Podcast brought up a case where someone's XRP was supposedly frozen for selling a significant amount.

Hamilton explained that such an incident couldn't happen on XRPL. He then clarified that the XRP Ledger doesn't allow freezing of XRP, no matter the amount being sold.

He explained that the incident involved Jed McCaleb, one of Ripple's co-founders. He said the funds were not frozen on the XRP Ledger but on an exchange platform.

Therefore, Hamilton emphasized that the funds could not freeze if users had not transferred them to an exchange in the first place. He pointed out that once users hold XRP within the XRPL,it remains safe from freezing actions by third parties.

He further explained that other cryptocurrency networks, like Bitcoin, have different rules. They have relevant authorities who can freeze assets under certain conditions due to legal issues or investigations.

However, he explained that theXRP Ledger's design protects users fromfreezing their funds and has a feature that allows users greater autonomy and control over their assets.

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