Not many cryptocurrency investors think of XRP as an Ethereum competitor. That would be blockchain coins like Solana, Cardano, BNB Coin for Binance Smart Chain (BSC), and Avalanche.
Ripple Is A Real Ethereum Competitor
XRP Ledger (XRPL), however, extends the RippleNet ecosystem. With it, the cross-border payments platform for easy foreign currency exchange and fast settlement is a full-fledged DeFi chain.
XRPL provides support for coin issuance, smart contracts, and the full gamut of DeFi use cases, with XRP as the native token. That makes XRP Ledger an Ethereum competitor.
Solana, Cardano, and Avalanche get most of the media attention as potential “Ethereum Killers.” But XRP Ledger is in the background, quietly and steadily developing Ripple into a DeFi crypto.
XRP Ledger’s Road Map In 2024
Moreover, in a recent update on X, XRPL lead developer Wietse Wind outlined the Ledger project’s road map:
“Well, [Vitalik Buterin] had a profound impact on this entire space, and now, 10+ years later, the XRPL ecosystem is still trying to capture even the tiniest bit of developer activity compared to what EVM did.
If we can iterate on his contributions, ship even better L1 smart contracts more suitable for real life, every day utility, and capture dev and retail activity, we’re on the right track.”
Well, the guy had a profound impact on this entire space, and now, 10+ years later, the XRPL ecosystem is still trying to capture even the tiniest bit of developer activity compared to what EVM did.
If we can iterate on his contributions, ship even better L1 smart contracts more…
— WietseWind (🛠+🪝 Xumm @ XRPL Labs) (@WietseWind) January 31, 2024
That part about shipping “better L1 smart contracts” for “real life, everyday utility” is important. That’s what drives active user statistics, brings on developers, and interests investors.
Birthday well-wishes to Buterin, who founded Ethereum in 2013, prompted Wietse’s post. XRPL Commons posted,
“Happy Birthday [Vitalik Buterin]! Celebrating your visionary impact on the blockchain space, you are a true innovator that continues to inspire our ecosystem.”
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