In response to the Ripple’s proposal of issuing a stablecoin, backed by USD, on the XRP Ledger (XRPL) and Ethereum networks, a storm of speculating has started in the cryptocurrency community. But the main point of the debate is focused on the possible implications for XRP, the native cryptocurrency of Ripple, normally used in cross-border transactions.
Krippenreiter, a cryptocurrency researcher, has commented, offering a detailed perspective aimed at eliminating the mounting worries about the future usability and importance of XRP.
Stablecoins vs. XRP
The analysis of Krippenreiter starts by specifying the essential variations between stablecoins and XRP. Unlike stablecoins that are pegged to real-world assets such as the US dollar to maintain stability, XRP functions as a globally neutral token on the XRPL.
[1/] @Ripple announced today that they will introduce a new stablecoin pegged 1:1 to the US dollar.
Does this imply that XRP is doomed?
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