- Despite such an unimpressive run, Hodder Law founder Sasha Hodder asked why they have a loyal community.
- The principal Developer Advocate at Protocol Labs answered her question.
- Transactions on XRP are quick and cost effective.
Loyalty among a community for a cause, entity, protocol, etc., is rare. Especially for a crypto entity, it takes a lot to garner such devotion. $XRP is proud to have such a passionate and loyal community. Let us discuss why?
Matt Hamilton, former Principal Developer Advocate at FinTech firm Ripple, explained on December 8 why $XRP boasts such a passionate and loyal community. The reasons were clarified after a tweet from the founder of Hodder Law, Sasha Hodder. Her law firm is dedicated to helping clients in growing their businesses in the field of cryptocurrency. She asked the question that, even when $XRP is not performing as expected over a past five-year period.
Hamilton is currently working as a Principal Developer Advocate at Protocol Labs and loves spending time on Twitter, clarifying the confusion around XRP Ledger and XRP. Hence he dived into this opportunity, explaining why $XRP has loyal fans to Hodder.
He hinted that XRP has been at par with Bitcoin over longer timeframes. And the platform investors are not interested in the cons of a bitcoin equivalent but in its utility.
The loyalty of fans is due to its number of appealing features. For Example, transactions using XRP are cost-effective and generally faster when compared with other digital currencies such as Bitcoin.
Ripple also has had partnerships with major banks and financial institutions, which helped in increasing its adoption and credibility. The combination of cost-effectiveness, speed and partnerships with deep-rooted institutions increased its appeal to the users.
Hamilton said on November 27, in the early days of Bitcoin Talk, one could earn 5 BTC by simply posting FUD that XRP was deceitful and centralized. This could be due to disinformation spread about XRP.
He added to the topic and said someone was influencing the bunch of people by offering 5 BTC in return for a specific FUD post about XRP, calling it centralized and a con.
Ripple and XRP are not the same.
People often confuse XRP with Ripple, and they are used interchangeably. But those are two distinct things. XRP is the digital currency, while Ripple is the name of the company that created it.
XRP trades at $0.3871, with a drop of 1.19% in the last 24 hours. Its volume showed a massive drop of 31.82% and is now at $515 million. At the same time, its market cap is at $19 billion, with a 0.93% drop. Its value against Bitcoin has also dropped by 0.69% and now stands at 0.00002259 BTC.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2022/12/31/why-does-xrp-have-such-a-loyal-community-mark-hamilton-explains/