Cardano (ADA) and XRP ‘Fight’: Understand What's Going On

The people behind Cardano (ADA) and XRP have recently clashed, even though they are projects with different foundations. But why did this happen? Ultimately, both altcoins have different value propositions. 

  Cardano is consolidating into a decentralized smart contract platform, but XRP is focused on serving as a token for low-cost cross-border payments. 

 Altcoins have a strong shared community, and against that ADA founder Charles Hoskinson attacked XRP. According to the entrepreneur, the seventh-ranked altcoin community is toxic and petty. 

 However, this was not Hoskinson's only claim. He also claimed that the project developed by Ripple lacks partnerships and value and that he severed ties with XRP for these reasons. Cardano's creator's accusations came shortly after the XRP community called him a liar. 

 Hoskinson, citing reliable sources, announced that the SEC case against Ripple will end in December. 15, 2022. However, the battle that started in 2020 is not over yet, and it was a reason for XRP supporters to riot and attack the entrepreneur. 

 The CTO of Ripple  David Schwartz responded to  American Businessman. Schwartz, who intended to either reassure XRP holders or simply  surprise them, said  Hoskinson should wait a few days and then return to the post to make sure  he meant it. 

 Is Cardano vs. XRP in a battle? 

 In October, Hoskinson found himself embroiled in yet another controversy with the XRP community due to a theory circulating in the cryptocurrency market that the SEC favors Ethereum (ETH) over other tokens in the blockchain environment. 

 In 2018, William Hinman was the chairman of the SEC  and the person responsible for starting the case against Ripple. He gave a speech where he commented on the legal status of Ethereum. Hinman argued that a cryptocurrency like Bitcoin (BTC) is not a security. 

  XRP Army believes  Hinman favored ETH. For example, in 2017-2018, there were four scheduled meetings with representatives of market altcoins, where they had privileged access to the SEC, which no other protocol in the blockchain market  had. 
 In addition, prior to working at the SEC, Hinman was a partner at the law firm Simpson Thacher and Bartlett LLP. But what does that have to do with anything? This company is part of the Enterprise Ethereum Alliance (EEA), which aims to commercialize a smart contract platform. 

 This request was criticized by Hoskinson, who argued that the SEC is not going after Ripple because of a conspiracy, but because there is no clear regulation of cryptocurrencies in the United States. 

 The XRP community was quick to attack the trader who said in his speech that what was said was taken out of context.  Twitter profile defender @Truth_hurts_hmm responded and said that Hoskinson wants to rewrite history as if nothing  happened, but  something did  and his speech was contextualized. 

 In this case, while Hoskinson claims to be a supporter of Ripple  in the lawsuit against the SEC, a large part of the XRP community does not see it that way. But when it comes to the controversial creator of Cardano, it's nothing new. 

 Hoskinson Controversies 

 Hoskinson is known for his controversial statements in addition to developing one of the main competitors of Ethereum (ETH). He  said that  there are people who like him and people who hate him in the crypto market, and it is very difficult to find someone who is neutral about him. 

 The entrepreneur behind Cardano has already criticized the most important cryptocurrencies of the market. For the entrepreneur, Bitcoin has an outdated and slow consensus model. As such, it announced in October that mining of the main cryptocurrency should be stopped. 

 According to Hoskinson, the blockchain domain does not need a proof-of-work (PoW) consensus mechanism, because it optimizes the network only to perform the task of transferring value without  much success in other domains. 

 The entrepreneur believes that all existing BTC units should be converted to Wrapped Bitcoin (WBTC). 

 In short, WBTC succeeds in bringing Bitcoin to the decentralized finance that cryptocurrency owners have not been able to enjoy. Thus, it leads to huge liquidity of Bitcoin on centralized exchanges. 
 In Hoskinson's analysis, Wrapped Bitcoin is still Bitcoin because it has all the properties and characteristics of an asset. 

 In Ethereum, an entrepreneur noticed that the altcoin team had ignored the Ouroboros protocol for years, causing a large delay in the transmission of proof of contributions to the ETH network.


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