Former Ripple Director Highlights XRP Ledger's Advantages In Solving Blockchain Issues

XRP Ledger. (Photo; Doc. Cryptonewsz)

JAKARTA - A former Ripple Director has highlighted the fact that XRP Ledger (XRPL) has managed to solve some of the problems currently being faced by the crypto industry.

In a recent tweet, Matt Hamilton, who previously served as Advocate Developer Principal at Ripple, expressed his disappointment after discovering a video presentation from the ETHGlobal hackathon event at Waterloo.

Hamilton shared his thoughts on the team's claim to have found a solution to the ever-increasing transaction cost problem on the Ethereum blockchain.

"In this situation, I feel a little frustrated. It's 2023, and I've just watched a demo on the hackathon of a team that has "resolved" cryptocurrency payment issues at low transaction fees," Hamilton wrote in his tweet.

Hamilton's tweet shows his surprise, as in 2011, XRP Ledger (XRPL) had addressed similar issues long before Ethereum was launched. However, there is a team that is currently trying to solve problems that should have been resolved many years ago.

However, Hamilton also acknowledged the value of the experience gained by the team through this effort. He carefully explained that his comments were not meant to underestimate the team's efforts.

Hamilton expressed his satisfaction with their commitment to building new solutions. However, he cannot ignore the fact that the more challenges a system faces, the greater the chance for development and innovation.

In particular, XRP Ledger (XRPL) offers a very cheap transaction fee in this industry. The network applies an average cost of US$0.0002 per transaction, as previously disclosed by The Crypto Basic. The fee aims to reduce the risk of spam transactions.

Although XRPL has low transaction fees and high transaction speeds that distinguish it from Ethereum, XRPL also has a wider base of developers and builder. Hamilton revealed that he often hears questions about why few people are involved in building on XRPL. He speculated that this might be due to the absence of problems that must be addressed in XRPL, which suggests its level of efficiency.

"Ser frequencyfully heard the question of 'why few people are building on XRPL,' but one of the main reasons is because they don't need to solve problems that don't exist," Hamilton wrote in his tweet.

An anonymous member of the XRP community suggested that the legal issues and price fluctuations of XRP may be a factor that affects the limitations of developers interested in contributing to XRPL development.

Agreeing with this view, Hamilton acknowledged the influence of XRP's legal issues and market value on developer motivation to engage in XRPL. It should be noted that some of the main actors previously considered XRP growth to be hampered due to legal pressure from the SEC's lawsuit.