Former Ripple executive Matt Hamilton, who is currently Director of Developer Relations at Bittensor, sought to defend XRP by saying the asset will certainly hit $100 at some point after a user called it a scam, a worthless entry on a centralized database with no chance of reaching a $5 trillion market cap.
Hamilton first pointed out that the XRP Ledger (XRPL) is not “a centralized database.” And slammed the critic for not knowing the difference between a blockchain and a centralized database.
The exec quit working with Ripple two months ago citing personal issues.
During his relatively brief stint at the firm, Hamilton has been instrumental in launching the XRP Ledger Grants program, hosting the RippleXDev channels on Twitch and Discord, and organizing XRPL Hackathons.
Despite leaving the crypto firm, the ex-employee continues to be active on social media, especially in the XRP community.
Former Ripple Exec – “The XRP Ledger was the very first DEX”
Hamilton, on May 31st, took to Twitter to explain why Ripple [XRP] has been able to maintain its position in the top 10 in the cryptocurrency market.
This was in response to a tweet from NFT-social MAKER’s media manager, Victor Duran. Duran first admitted that he knows little about Ripple XRP other than its role to make cross-border payments inexpensive. He then questioned if the platform is being utilized.
Further, he is intrigued how Ripple has managed to stay in the top 10 when it has “no DEXs, smart contracts, or NFTs,” and has referred to its ongoing tussle with the SEC. To which Hamilton replied,
No DEX?! The XRP Ledger was the very first DEX. It was the first blockchain to allow the tokenisation of assets. It has NFTs, and native NFT support is currently being voted on by the community for activation. Most SC functionality is built in, but also “hooks” being developed.
Hamilton proceeded to say that XRP has remained among the top 10 cryptocurrencies because it works. It carries out its advertised function.
“The XRP Ledger remains the finest blockchain for payments and value transfers. It is decentralized, secure, quick, affordable, scalable, and well tested. The cryptocurrency has withstood the test of time,” he wrote.