Comparison with current Blockchain systems: Part 5. #MetaHash vs Ripple
Dear Community! Today we are going to continue talking about the advantages of our network in comparison with other current blockchain systems. Some of you mentioned Ripple in discussions, so we decided to analyze our similarities and differences with XRP!
First of all, it’s hard to compare #MetaHash with Ripple due to a number of reasons. Most importantly, their objectives are different — while #MetaHash aims to create a network for the people and implement full decentralization, XRP is built for enterprise use and offers banks/payment providers an on-demand option to source liquidity for cross-border payments.
#MetaHash overperforms Ripple in several significant aspects. XRP is one of the top projects with a very high TPS rate — 1500. This result is considered as very good and much better than Ethereum or Bitcoin, at the same time, #MetaHash transactions per second rate is more than 60,000. Ripple is phenomenally fast in handling payment — it can do it in 4 seconds, however, #MetaHash needs less than 3 seconds for transaction approval.
We have already mentioned decentralization, nonetheless, the fundamental difference between 2 projects is hidden here. Ripple is a central digital currency controlled by one company, it is fully centralized, while #MetaHash offers the highest level of decentralization on the crypto market. Ripple is not even attacked or criticized by banks and the global financial system because they do not see a competitor in XRP. Ripple Investors are betting on the tendency of banks/financial institutions to buy huge amounts of XRP in order to improve their services, not to sell them and provide them to their customers.
Ripple also can’t be mined and it is probably the only similarity of XRP with #MetaHashCoin but the reasons are different. Ripple can only be bought on trading platforms, there is no other way to get these coins. At the same time, #MetaHash can be bought and also forged, which is much better than mining for plenty of reasons that we have already addressed in a number of articles.
It is hard to compare #MetaHash with Ripple due to the vast difference in goals and objectives. XRP is not even a proper cryptocurrency, unlike #MetaHashCoin, Ethereum or Bitcoin. Ripple is set to benefit banks and financial corporations, while #MetaHash is aiming to benefit ordinary people and solve current issues in the blockchain tech.
