Ethereum (ETH) and Ripple (XRP) are among the top 3 cryptocurrencies by market cap and are often viewed by investors as competing projects. The tension between both communities runs high as to which project is better, but what many investors don’t realize, is that in fact, these two don’t compete.
Although Ethereum’s Ether and Ripple’s XRP are in competition for investor capital, the two projects are trying to accomplish entirely different things.
Ethereum is creating a fundament of decentralized internet to power dapps and fight censorship, while Ripple’s blockchain helps existing companies dramatically reduce transaction time and costs. Ethereum rebuilds and innovates, while Ripple onboards and transforms.
Their plans of action and target markets are completely different from one another, yet their primary goal of fostering blockchain technology to improve society’s existing systems are the same.
Both Ethereum and XRP are among the top 3 cryptocurrencies right behind Bitcoin (BTC) and for good reason. They have the highest rate of real-world adoption and are actually revolutionizing the sectors they penetrate, making them both industry leaders when it comes to fostering blockchain technology.
For instance, Ethereum has the largest ecosystem of cryptocurrency projects and solutions that are being adopted by some of the world’s biggest and most successful enterprises. To name just a few of the billion-dollar companies using Ethereum’s blockchain technology, there’s Microsoft, Amazon, and Samsung.
Countless other companies are experimenting and working with Ethereum’s blockchain tech as well, including professional services firm Ernst & Young, and more than 200 global banks through Quorum, an enterprise-focused version of Ethereum
Apart from existing companies adopting and utilizing Ethereum, the protocol is also being implemented in numerous innovative startups. For instance, tech startup Fluidity is bringing Ethereum-powered mortgages to home buyers in California and New York.
The number of Ethereum developments, implementations, and partnerships is endless, making the project a clear front runner when it comes to fostering new blockchain technology.
However, they are not alone.
If there’s one other cryptocurrency project achieving an unprecedented level of adoption in the crypto space, it’s Ripple’s XRP. While Ripple may not be everybody’s favorite cryptocurrency, there’s no doubt it’s a major contributor and industry leader in the blockchain arena.
Ripple has been actively working with financial institutions, breaking down many boundaries between the blockchain industry and traditional finance in the process.
They have been preparing the traditional finance industry for the blockchain revolution for years now and have onboarded over 200 financial institutions around the world with their blockchain technology as a result.
Some of the most prominent institutions Ripple has influenced include the World Bank, the International Monetary Fund (IMF), and the EU Commission. Apart from these institutions known to be associated with Ripple, countless other relationships and partnerships are developing on a daily basis.
For instance, Visa recently acquired Ripple’s partner Earthport, RippleNet is powering on-demand payments around the world, the xCurrent 4.0 upgrade is now live, and their overall network of partnerships is continuously expanding.
All in all, it just never ends with Ripple, they are constantly moving this industry forward while laying the foundation for the blockchain industry and pushing for the adoption of blockchain tech and their native crypto asset, XRP.
Regardless of what people say about Ethereum and Ripple, these two projects are leading the blockchain industry forward in an unprecedented manner.
There are no other projects, besides Bitcoin, that even come close to the number of developments and amount of influence these two have on the industry. Together they will usher in a new era and drive the adoption of cryptocurrencies and blockchain tech.
Do you agree that both Ethereum (ETH) and Ripple (XRP) are among the most influential cryptos with the greatest impact on the blockchain industry? Let us know what you think in the comment section below.
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