Matt Hamilton, former director of developer relations at #RippleX , believes that XRP is a better crypto asset than Bitcoin.
In a recent interview on the Mr. M podcast, the former Ripple director focused on the scalability and practicality of both cryptocurrencies.
According to him, $XRP
is well suited for large-scale use. However, he could not say the same about #Bitcoinâ , noting that its limited scalability is the asset's main problem. Hamilton argued that Bitcoin's network processes between seven and ten transactions per second, making it unsuitable for global use.
Two transactions in a lifetime
Based on this limitation, Hamilton argued that if the entire world population decided to use the network, everyone could only conduct two #transactions in their lifetime. Specifically, he argued that Bitcoin requires additional systems, such as Layer-2 or custodial networks, to increase scalability.
While these systems may increase Bitcoin's scalability, Hamilton argued that they could undermine its core principles. Unlike the Bitcoin network, the XRP Ledger (#XRPL ) is designed to handle more transactions per second. Last year, the network received a significant boost as the number of transactions per second (TPS) rose from 1,500 to 3,400.
XRPL transactions are cheaper
In addition, a former Ripple director emphasized Bitcoin's high transaction fees as another problem associated with the cryptocurrency.
According to the former Ripple executive, Bitcoin transaction fees are high and will continue to rise in the future as subsidies for mining disappear. Consequently, he suggested that Bitcoin could eventually become a cryptocurrency used only by banks and wealthy investors.
âThe average person simply won't be able to make transactions in Bitcoin,â he noted.
In contrast, transactions in XRPL are cheaper, as the average transaction fee is about $0.0002.
XRP cannot be frozen
Hamilton also refuted speculation that #Xrpđ„đ„ can be frozen on XRPL. He made this assertion after podcast host Mr. M mentioned an incident where someone's XRP was frozen because he sold a huge amount.
Responding, Hamilton noted that Ripple co-founder Jed McCaleb was involved in the incident. According to Hamilton, the funds were seized from the exchange and not from XRPL.
He emphasized that they could not have been frozen if they had not been transferred to the exchange. The ex-director suggested that while the relevant authorities could freeze assets on other networks such as Bitcoin, such actions could not be carried out at XRPL.
