Former Director of Developer Relations at Ripple Matt Hamilton recently weighed in on the debate surrounding the true nature of decentralized finance (DeFi) projects.
Hamilton responded to a member of the cryptocurrency space — who claimed that XRP has nothing to do with decentralization, just a payment network — that the XRP Ledger actually predates Ethereum and was created years before Ethereum.
He also shared the incredible fact that Ethereum co-founder Vitalik Buterin slept on Ripple’s CTO David Schwartz’s couch while trying to land an internship at the company.
You look confused. The XRP Ledger predates Ethereum by several years. Vitalik used to sleep on Ripple’s CTO couch while trying to intern there.
— Matt Hamilton (@HammerToe) April 30, 2023
Cyber Capital founder and CIO Justin Bons sparked debate about the true nature of decentralized finance, saying that Bitcoin, XRP, BNB, and XLM are not genuine DeFi projects.
In contrast, Bons lists Ethereum, Cardano, and Polkadot as projects that truly embody the principles of DeFi.
However, XRP enthusiast Panos Mekras disagrees with Bons and claims that XRPL, the blockchain that powers XRP, is actually a precursor to DeFi.
Mekras believes it is the first blockchain to support decentralized exchanges, asset tokenization, stablecoins and smart contract functions. He added that XRPL is also decentralized and permissionless.
Schwartz himself joined the discussion, and his sofa is part of Vitalik Buterin’s career ladder. He explained how the consensus on which the XRP Ledger operates brings true decentralization to the network, even better than PoW blockchains like Bitcoin.
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According to USA Today