We discuss the statement made by David Schwartz, CTO of Ripple, which may hint that XRP was created as a successor to Bitcoin.
David Schwartz's Statement on Bitcoin
XRP advocate Edo Farina shared a recent post revealing a September 17, 2011 screenshot where David Schwartz stated: 'I’ve been working on a Bitcoin successor myself, after seeing what has worked well and what has not worked well.' This statement suggests XRP was intentionally designed to succeed Bitcoin.
Evolution from Bitcoin to XRP
In early 2011, Schwartz and his colleagues examined Bitcoin’s promise but grew concerned over its flaws like high energy consumption and slow transactions. This eventually led to the development of XRP, launched in June 2012. This transition indicates XRP was envisioned as an advanced version of Bitcoin with faster and cheaper transactions.
Critique and Defenders of XRP
Critics argue that XRP’s larger supply and different consensus methods undermine its claim as a successor to Bitcoin. However, supporters claim utility and market capitalization are more important metrics than price comparisons. This debate continues to captivate the crypto community.
The discourse surrounding XRP as Bitcoin's successor persists, raising questions about developer intentions and technology's evolution. Whatever the outcome, XRP remains a significant part of crypto legacy.
