Dwelling » Bitcoin » Ripple CTO David Schwartz sees Bitcoin because the bedrock of the digital asset ecosystem
Jul. 15, 2025
The core developer of the XRP Ledger acknowledged that market prices would possibly even be disconnected from staunch utility within the short time frame.
Key Takeaways
- David Schwartz mentioned Bitcoin’s early-mover advantage and proof-of-work comprise encourage stable its prolonged-time frame dominance within the digital asset ecosystem.
- Bitcoin’s value and utility are derived from its spend on varied layers, chains, and financial services and products beyond its native blockchain.
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Ripple Chief Abilities Officer David Schwartz mentioned Bitcoin’s value would possibly moreover lie in its foundational role as a stable, belief-minimized settlement layer, in discipline of in its dispute utility on its substandard chain. He suggested this role would possibly moreover make stronger its prolonged-time frame relevance, even as newer blockchains provide extra developed functions.
“The save of staunch valid-world problems being solved by cryptocurrencies on the present time is mainly little. But I mediate the hope for Bitcoin is that its stable layer one and early open will stable it a discipline as a forex of preference in an evolving digital asset ecosystem despite the proven truth that the overwhelming majority of its transactions don’t happen on Bitcoin’s layer one,” Schwartz replied to an X user’s put an recount to about what recount Bitcoin is solving on the present time.
“Presumably a grand, wholesome proof of work backbone that folks continually occupy the probability of utilizing will proceed to shield Bitcoin’s discipline despite the proven truth that it might’t match the native functionality of competing digital resources,” he added.
Schwartz moreover pointed to the rising spend of Bitcoin on various layers and platforms as proof that Bitcoin’s utility extends far beyond the important thing chain.
He likened this to XRP being fashioned on an EVM-esteem minded sidechain, where it retains forex utility despite the proven truth that no longer transacted abruptly on the XRP Ledger.
“A true analogy is XRP being fashioned as a forex on the EVM sidechain. It’s no longer a dispute spend of XRP on XRPL, on the exchange hand it’s soundless piece of the utility and value or XRP as a forex,” Schwartz explained. “Bitcoin is being fashioned in far extra places than finest on the Bitcoin blockchain itself.”
Bitcoin surged past $123,000 on Monday, lifting its market capitalization to a file $2.4 trillion. It now ranks because the sixth Most mighty asset globally by market cap, trailing fully gold, NVIDIA, Microsoft, Apple, and Amazon, consistent with CompaniesMarketCap.
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