With Bitcoin, only the miners are compensated; if you run a node for your customers your only compensation is that you have that node for your own use. With no cryptocurrency rewards available, the network attracts a less reliable pool of participants who are more likely to drop off without any notice.
Although the XRP Ledger has not once fallen offline since launching in , this is still a pitfall Ripple has worked hard to mitigate in the latest version. Although the ongoing SEC lawsuit looms like a spectre over the XRP project, Schwartz and his team are largely divorced from this conversation and the unique architecture of XRPL provides an important counterexample to the other systems in use today. Although Bitcoin has been around for more than a decade, the cryptocurrency industry is still in its nascent stages and the process of maturation requires all manner of approaches to be explored.
The underlying technology has already come a long way and so have its alternative use cases look at the rise of DeFi , but crypto is still largely battling the same demons: volatility, limited adoption and regulatory uncertainty. However, Schwartz is convinced the magnetism of cryptocurrency and the commitment of the community to innovation will mean technological solutions are found to some of these most pressing questions.
But most [members of the crypto space] want to comply with these kinds of measures.
Bitcoin was always bound to fail its most important mission | TechRadar
And it has been a drag on the adoption of crypto that people have had difficulty figuring out how to remain compliant. In the years to come, Schwartz predicts, cryptocurrency projects will preserve their roots in decentralization and disintermediation by providing a way for users to adhere to local regulation, but without mandating compliance.
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Evolution of crypto
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