The launch of cryptocurrencies from mainstream institutions has been the norm of the digital assets industry for some time now and the Mark Zuckerberg-led Facebook’s Global Coin has been front and center with regards to that. A recent article by Yahoo Finance that stated Facebook’s GlobalCoin would  “annihilate Ripple” was doing the rounds on Twitter and even caught the eye of Ripple’s Chief Technology Officer, David Schwartz.

The article quoted the words of ‘Bitcoin expert’ Max Keiser who had claimed that the Facebook global stablecoin obviates the need for hundreds of altcoins ‘including XRP’ and that the altcoin apocalypse was high. To this, Schwartz retorted:

“I love opinions about XRP that don’t show any evidence of having any understanding of XRP. This is just bitcoin minimalist thinking that there’s bitcoin and everything else.”

This comment led to an all-out debate between Schwartz and Noryn SYra, a cryptocurrency enthusiast, who wanted Schwartz to admit that  Ripple was a permissioned system, a statement denied by the Ripple official. The debate continued when Syra claimed that validators have to choose who to put on the Unique Node List and if a user was not on someone’s UNL then the ‘validator does not mean anything’. Schwartz replied:

“I don’t see how you can square that fact with the fact that there is no way to tell whether your validator is on someone else’s UNL or not and the system works precisely the same whether it is or isn’t.”

Ripple’s ‘trillion dollar man’ continued:

“Think of it like mining except you don’t get rewarded and can’t censor. Why does it matter who is doing or not doing it at that point. It’s permission … to what?”

The computer scientist further pointed out that the one problem that users cannot solve with the public state was ordering valid transactions received at about the same time. He added that no one really cared about that properly as long as it worked unhindered. David Schwarz concluded the Twitter thread by stating:

“Bitcoin costs millions of dollars a day to solve this problem and it gets mediocre finality and mediocre censorship resistance. We solve it for nearly nothing with better finality and censorship resistance. You respond that you need “permission” to have no affect on the network.”

The post Ripple’s David Schwartz defends XRP against BTC’s ‘mediocre finality and censorship resistance’ appeared first on AMBCrypto.

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