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Ripple [XRP]’s David Schwartz – Lightning Network can be a game changer for Bitcoin [BTC]

Laira Rebecca



Lightning Network [LN] can be a game changer for Bitcoin [BTC] - David Schwartz
Source: Pixabay

David Schwartz, the Chief Cryptographer at Ripple was a part of the BlockShow 2018 Europe held at Berlin, Germany. Ran Neu-Ner, the famous CNBC anchor, presented the talk show which had four other speakers along with David. 

David began the talk show by explaining use case for the XRP token. Ripple sees XRP as a settlement asset for international cross-currency payments. Instead of having to use any correspondent banking system and without any cost involved, the international transfers can be executed within 5-6 seconds. 

He also mentioned that XRP ledger provides all the characteristics of the decentralized system in a different way than Bitcoin does, it is not vulnerable to problems like a majority attack and has a higher transaction rate.

Further, Ran raised a question about the future of Bitcoin [BTC].

“Is Bitcoin at the risk of becoming obsolete?”

David thinks that Bitcoin has to find a new use case, considering all the controversy that had occurred earlier regarding Bitcoin and Bitcoin Cash.

David says:

Lightning Network is a game changer because Bitcoins challenges to find a use case and a use case of store of value . Bitcoin has some limitations making  it not a very good means of exchange, just because of the transaction volume it can handle while Bitcoin Cash can handle more transactions on chain.”

He also mentioned that it is very hard to predict small level details, just because we do not know how Bitcoin is going to evolve.

David also shared his views on how cryptocurrencies such as XRP is different from today’s digitized assets.

The digital asset transfer makes a transformational difference by transferring the actual value instead of the fiat currencies. Digital asset transfers have made the exchange of money from various parts of the world very simple. According to David, one of the hardest things to achieve in the blockchain industry use cases that are focussed on settling payments. 

He says:

“ It is easy to adjust numbers around, but the problem is, the problem is now you have left a mess because you haven’t moved the actual value”

The lack of accountability is the main difference between blockchain transactions and fiat currency transactions.

A Twitterati named Crypto Dan says:

I love listening to @JoelKatz. I dont need the pump on #xrp because I’m a true believe BUT he does get me pumped up everytime I hear him speak…#xrpthestandard

A cryptocurrency enthusiast says:

It does seem odd that payments aren’t settled instantly. Kids will be taught in history soon how we used to lumber fiat money around.”

Another Twitterati says:

“Sooooo good! I love to listen to him speak. I could listen to David explain how to pour a glass of milk!”

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Laira is a full-time writer at AMBCrypto. She is a Computer Science graduate and she has about 1-year experience in writing. Her enthusiasm and keen interest in developing her knowledge about blockchain and cryptocurrency led her to be a part of AMBCrypto. She currently does not hold any value in cryptocurrency or its projects.


Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out of ‘saucer bottom’ pattern




Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out out of 'saucer bottom' pattern
Source: Unsplash

Binance Coin [BNB] is nothing short of becoming the best performing crypto asset of 2019, as it creates higher highs every day. In a recent surge, BNB went up by approximately 12% in 24-hours breaking out of the ‘saucer bottom’ pattern.

BNB has been on a bull run since December 2018, it has surged by approximately 470% since that point. In the last 24-hours, the price was up by approximately 12% from wick-to-wick.

Source: TradingView

Moreover, the rise in the price over the day can be attributed to the announcement by Binance DEX, that was launched recently. The tweet read:

The new update will convert the BNB, which is an ERC20token, into BEP2, it will be called the “mainnet swap”. Furthermore, users have to convert their ERC20 tokens on Binance, the details of which will be released in the near future.

In addition, Mithril, a cryptocurrency project has announced that it will be the first project to migrate to the Binance Chain. It tweeted:

“$MITH token holders on the new @Binance_DEX will be the first to experience increased speed, security, and user friendliness while maintaining full control over their funds.”

A Twitter user, @carlitosblvd123, commented:

“So , all BNB we have now like erc20 in binance exchange and on trust wallet will be converted to bep2 automatically or we have to do anything to happen?”

@jigneshon, another Twitter user commented:

“Crypto Revolution will happen on 23rd April when Binance Chain Genesis block will be created. 🔥”

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