Ripple’s CEO Says XRP, Bitcoin, and Blockchain Networks Will Continue to Make Changes Slowly

News / 28.02.2020

David Schwartz, Ripple’s CEO, says Bitcoin, XRP, and other distributed ledgers will continue to evolve slowly with great care and thoroughness.  Schwartz was speaking in the web series Ripple Drop. He also talked about the XRP Ledger’s unharried improvement, which started with a few nodes in 2011. Still, it is now utilized to power international payment transactions involving billions of dollars.

Over the years, the XRP experienced significant changes in less than a decade; however, Shwartz insisted that blockchain systems’ evolution will take a long time, and this is because of their decentralized nature.

Shwartz on Explaining the Nature of XRP, Bitcoin, and Blockchain Networks

Ripple’s CEO sees these systems as ones without an administrator and with many payment providers and financial networks depending on it. He says no individual is reliable to answer on any mess up happening; therefore, the development and evolution of these systems are relatively slow even because dependability is critical.

Schwartz also noted that these systems differ from traditional software models because everyone is affected by new network updates. For this reason, the individuals relying on the blockchain systems need to adapt to all changes, and people must operate with new rules whenever there are changes. 

Nevertheless, it is unlikely that decentralized ledgers will remain the same despite the slow progress. Currently, Ripple is proposing some added features for the XRP ledger, including deletion of accounts.

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Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.