It is very true what they say, that Ripple has been hit with a ton of lawsuits. When you look at the fact that XRP is not actually classed as being a currency yet, this is not good news at all. There have in fact, been a lot of hints that show that it is not a security however, and this is very interesting. There are only some investors who believe that it is not a security at all. Of course, only some investors who are not representing Ripple believe this.
The problem here is that a lot of people aren’t thinking about the fact that if Ripple was to be classed as being a security, it would not be the only one that would suffer. Every currency out here would suffer, but this is not 100% likely to happen. Ripple was developed long before ETH even started out and this is one of the many reasons why they never focused on smart contracts when compared. A long time ago, Stefan Thomas who is the Chief Technology Officer for Ripple has come out to say that he didn’t feel as though smart contracts were suited to the industry at the time. They have also stated that they felt as though they were dubious in value as well. When you look at things on the other hand, you will soon see that ETH has had its fair share of problems. Sure, it may be the leader when it comes to smart contracts but it has been criticised right from the beginning. This is due to the amount of fees and even the scalability that it has to offer. Ripple’s also got a smart contract known as Codius as well. This has been brought back by Thomas and it has the ability to deal with a huge range of issues that have been mentioned above.
Bitcoin and even Ethereum are the pioneers in the cryptocurrency world but the two are incredibly slow. Ripple have managed to be the beta for both of them, and when you look at the transfer speeds of Bitcoin you will soon see that there is a huge difference in terms of the magnitude of them. This is still far from Visa and the transfer speed and when you compare it to Bitcoin and Ethereum, you will soon see that Ripple is the outright winner. So when you look at the fees, you will soon see that BTC and ETH are on the rise. On top of this, the cost for XRP are very low and it really is opening up the cryptocurrency market for a much bigger user base. This is one of the biggest reasons why micropayments and even international transactions are bigger with Ripple than anyone else. At the end of the day. Ripple never really aimed at evolving into a retail coin but it could well be one considering the fact that it has such low speeds and low fees as well. At the end of the day. Ripple is not targeting end users, and financial institutions either. They do want them to start adopting RippleNet and even the blockchain as well.