🚨 Ethereum Founder Criticizes Ripple: What’s the Real Deal with XRP?

Vitalik Buterin, co-founder of Ethereum, has criticized the XRP community by calling the token “completely centralized” and claiming it had previously falsely accused Bitcoin and Ethereum of being Chinese-controlled assets. Ripple CTO David Schwartz responded by tweeting that Buterin failed to understand that Ripple is a company and XRP is a digital asset. John Deaton, a US attorney representing over 75,000 XRP holders, also criticized Buterin’s comments, stating that XRP had not lost the right to protection or the need to apologize. Meanwhile, concerns have arisen over Ethereum’s centralization with its transition to proof-of-stake.

Vitalik Buterin’s Criticism of XRP

Recently on the Bankless podcast, Vitalik Buterin, co-founder of Ethereum, had some controversial things to say about XRP.

XRP Centralization Claims

During the podcast, Buterin claimed that XRP is “completely centralized,” which contradicts a Medium article he wrote in the past discussing how something cannot be completely centralized.

Apology for Chinese-Controlled Asset Claims

Buterin also criticized XRP for claiming to the US government that both Bitcoin and Ethereum were Chinese-controlled assets, saying that the company has not apologized for the statement.

Gating the Crypto Industry

Buterin went on to state that any project that wants to be considered part of the crypto space needs to use cryptography and have some kind of chain data structure. However, many in the industry have since criticized Buterin’s claim and refuted that he is the gatekeeper of the crypto industry.

David Schwartz Replies

XRP’s Chief Technology Officer, David Schwartz, criticized Buterin for not understanding the difference between Ripple and XRP, noting that Ripple is a company and XRP is a digital asset.

John Deaton Reacts

Renowned US attorney John Deaton, who is representing over 75,000 XRP holders in Ripple Labs versus SEC lawsuit, criticized Buterin for attacking XRP and its community. Deaton expressed gross anger towards Vitalik Buterin stating that software code should not lose protection or apologize.

Ethereum’s Centralization Concerns

Concerns over Ethereum’s centralization have also been raised in recent months, with some claiming the move to Proof-of-Stake has intensified these concerns. Furthermore, there have been worries that Ethereum may face similar regulatory scrutiny to that which XRP has been subjected to recently.

Infighting in Crypto Industry

The situation highlights the need for unity amongst cryptocurrency projects, with XRP and Ethereum being just two examples of companies that differ in their goals and aspirations. With the industry experiencing a slump in prices, it’s important to work together for the greater good.

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