Ripple CEO warns against most cryptocurrencies
The CEO of Ripple, which is one of the most rising cryptocurrencies of 2017 and is within a company unlike other cryptocurrencies,
Speaking at the Gold Sachs Technology and Internet Conference, Garlinghouse said that most cryptocurrencies have no value and are only speculative. stated that it was bought and sold for purposes. He said that the underlying reason for this rhetoric is that most cryptocurrencies serve no purpose. Considering that there are over 5000 coins circulating in the market and most of them were created using the codes of other coins, we can say that Garlinghouse’s thesis is correct.
So what is Ripple’s purpose?
As it is known, the market volume is currently known. The purpose of Ripple, which is the third crypto currency after Bitcoin and Ethereum, is to provide fast and low-cost transactions between banks. Ripple, which was at the level of $ 3.30 in January, is trading at the level of $ 1 these days. Garlinghouse also stated that Ripple is 1000 times faster and cheaper than Bitcoin.