Calvin Ayre Sarcastically Criticized On Bitcoin Lightning Network Booms

On twitter, a Canadian entrepreneur, Calvin Ayre, sarcastically criticized Brad Garlinghouse for not knowing how public blockchains actually work. 

C.E.O of Ripple, Brad Garlinghouse, had an “Ask Me Anything” style interview, carried out by Ripple’s Monica Long.  On this platform, he mentioned that by many measures, XRP is More decentralized than Bitcoin And Ethereum. His comments have also attracted several criticisms.

Since XRP, the digital asset with the most demand for the Fintech startup in Ripple rose to the top of cryptocurrency leaderboard. One criticism has been that the XRP Ledger is centralized. It also makes use of an alternative tracking server system. The system isn’t reminiscent of Bitcoin’s Proof of Work (PoW) or Proof of Stake (PoS) system proposed by Ethereum’s mass of developers.

XRP’s Ledger Has Been Decentralized

The Chief Executive Officer of the San Francisco startup, Brad Garlinghouse, had an “Ask Me Anything” style interview. The interview was led by Ripple’s.

During the course of the interview, he explained why his company’s asset is decentralized, rather than centralized. The CEO of the financial technology company, states that XRP’s ledger has been decentralizing.

XRP’s ledger has been decentralized for a long time now, this argument has been raised to often, he added. The crypto industry stakeholder, who is also a technology entrepreneur, spoke on the people’s reactions towards the market. He noted that people are spreading their FUD (fear, uncertainty, doubt).

There’s also much misinformation regarding XRP’s status and underlying nature, he added. According to Garlinghouse, due to the presence of misinformation, those unaware will head the wrong way. Importantly, Garlinghouse emphasizes the fact that the XRP ledger is decentralizing.

Calvin Ayre Sarcastically Criticized Brad Garlinghouse

Seven Validators

Garlinghouse backed his claim with facts, because of the crypto community. He explained that today, Ripple runs seven validators, this is about four percent of all the public validators.

To the CEO of San Francisco startup, by almost any measures now, the XRP Ledger is more decentralized than the Bitcoin ledger or Ethereum ledger. In other ledgers, you have a very small number of miners controlling about 50% of mining power.

When he was about closing the interview, the Ripple’s head gave further insight. He pointed out that he tries not to pay attention to the FUD (fear, uncertainty, and doubt) of the people.

However, he would rather bear down and keep going. He will maintain transparency, instead of stressing out over what the community thinks. His opinion has received some criticisms.

On twitter, a Canadian entrepreneur, Calvin Ayre, sarcastically criticised him for not knowing how public blockchains actually work. His tweet read: “hahahah…ripple CEO admits to not understanding how public blockchains like Bitcoin SV actually work”

Bitcoin Lightning Network Exceeding 500 BTC Network Capacity

OpenNode developer, Rui Gomes, recently went on Twitter to air his view on the Lightning Network.
According to Gomes, the off-chain system facilitates instant, low-cost, scalable Bitcoin transactions. It is also experiencing tremendous growth.

The developer, Gomes, has an invention named Lightning App (LApp). He revealed that the network will facilitate 500 BTC in a few days time. The statistic validates by 1ML, a Lightning Network analytics provider. Based on 1MLs statistics, node channels headed by Bitcoin development consortium Blockstream can now accept 496.49.

This sum amounts to $1.93 million at current prices. The figure also expects to rise in the next few months. In the recent past, the network capacity increased by 13%, irrespective of the crypto market remaining in a chaotic state. Calvin Ayre has openly criticized the project.

Quoting his tweet: another funny one. Original Bitcoin (now called #Bitcoin SV) already massively scales and has tokens and smart contracts and makes this announcement like someone saying they are close to putting a rocket into space when SV is already doing moon landings. Thereby, playing down the achievement.

What is your take on Garlinghouse comments? You can share your opinion on this topic and lots more on our Twitter and Telegram pages.

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Calvin Ayre Sarcastically Criticized On Bitcoin Lightning Network Booms
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Calvin Ayre Sarcastically Criticized On Bitcoin Lightning Network Booms
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On Twitter, a Canadian entrepreneur, Calvin Ayre, sarcastically criticized Brad Garlinghouse for not knowing how public blockchains actually work. 
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Ifeanyi

Ifeanyi Egede is an experienced and versatile blockchain/crypto writer and researcher on with tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids. Learn more about how Ifeanyi Egede could be of help to your business.

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