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Ripple has shown a dedicated involvement in NFTs this year. Ripple authorities have also shown their dedication. Even though Ethereum is ruling the NFT market but Ripple CTO David Schwartz is confident that Ripple will be able to challenge ETH and take over the NFT sector. Despite being in the lawsuit, the CTO believes that the company is ready to work in the industry.
In one of his recent speeches at an NFT event in New York, David Schwartz mentioned that while Ripple is a latecomer to the NFT sector, they are bringing better scalability, low cost, and speed than Ethereum. But what is going to help Ripple dominate the sector is the unique features offered by Ripple. In response to a question being asked about the benefits of using the XRP Ledger for NFTs versus Ethereum the CTO answered,
Yes, one of them is the scalability, or the number of transactions per seconds. There are things you can do on Ethereum though that you can’t do on the XRP Ledger. That’s why a lot of DeFi work today is happening on Ethereum. You can do almost anything you can envision, like things with loans, or TradeFi, or mortgages and staking. We also have a decentralized exchange, and you can issue new tokens. Payments are cheap and fast, so to some extent it’s a fundamental engineering tradeoff. If you want to do everything, then you can’t be very good at anything. The XRP Ledger has a list of things it does really well. If one of those are the things you need, that’s great. But if one isn’t what you need, then you need to move to something more general.

#XRP #Ripple

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