Speaking on CNBC Fast Money, Ripple co-founder jed McCaleb said that cryptocurrencies and blockchain technology in need of a decentralized network, in order to have success in the long term. According to him, while the only successful decentralized network to which it has ever faced, is the Internet. The founder of Stellar and Mt. Gox said that the deployment of the centralized financial payment Protocol in cryptography lead us to “the system, which is no better than SWIFT or PayPal”.
“The reality is that if you have a network such as the Internet, which can be one […] is the key to success,” – said McCaleb.
Note, after leaving Ripple, McCaleb launched the project Stellar Lumens (XLM), who first took the top position among the most highly capitalized currency, followed by a significant decline. However, he is still in eighth place, after Cardano and EOS. XLM the cost today is approximately $ 0,22, market capitalization is 4 073 217 153 USD.
Ripple remained on the third position after Bitcoin and Ethereum, for a short period at the end of 2017. Then, the cryptocurrency has exceeded the capitalization of Ethereum, and came second in the overall ranking. Then the price of XRP has reached the maximum of 3.02 USD. Today, the price of Ripple XRP fluctuates at a value of $ 0,59, the rate gradually decreases. However, market analysts hopes for a recovery, considering emerging and potential partnerships.
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