In an interesting turn of affairs around Bitcoin’s recent slump, it seems that Brad Garlinghouse, the head honcho at Ripple, is trying to position that company’s XRP blockchain network as being more ecologically friendly than BTC.
Over the past weeks, we’ve seen Elon Musk come out against Bitcoin and reverse some of his crypto-friendly policies around his Tesla electric vehicle company. We’ve seen the Chinese cracking down on Bitcoin miners, ostensibly in order to meet 2060 carbon goals.
This morning, Samuel Wan at NewsBTC reports that some of these events caused the infamous FUD in the market, and that “bears are controlling the market” for Bitcoin.
“Bitcoin proponents, including Twitter’s Jack Dorsey, say Bitcoin can be made green over time,” Wan writes. “But Garlinghouse dismisses this argument saying the facts and trends don’t support this view, and Dorsey will need to “reevaluate himself” down the line. … Ripple prides itself on being a much more energy-efficient platform than Bitcoin. Rather than wasteful PoW mining, the Ripple Ledger reaches consensus through a network of independent validating nodes. This process acts as a distributed economic system storing accounting information.”
Is Ripple better than Bitcoin for the earth? We’ll see.
Meanwhile, now might be a good time to take another look at the ongoing case between Ripple and the U.S. Securities and Exchange Commission.
A new report reveals that Judge Sarah Netburn has decided turnabout is fair play in offering the SEC a chance to secure key documents related to Ripple’s position on international operation, or specifically, its foreign partners’ MOUs with regulators.
In past months, analysts had thought that some of Netburn’s rulings were handing Ripple a big competitive edge in the case. We’ll see how things continue to shake out, as Ripple may gain from not only emerging victorious against the SEC, but from positioning itself as a more ecological Bitcoin alternative.