Vitalik Buterin, the Ethereum co-founder, has recently blasted on the team of Ripple for a recent article they posted. Buterin calls out Ripple for comparing both Ethereum and Bitcoin to XRP. Ripple has <a href="https://ripple.com/wp-content/uploads/2020/12/Ripple-Wells-Submission-Summary.pdf" target="_blank" rel="nofollow noopener">posted</a> an article, “Summary of Ripple’s Wells Submission” after the recent lawsuit by the U.S. SEC and they have claimed XRP to be a better alternative to Bitcoin and Ethereum. The firm has stated in the article that XRP is not a security, rather it is more like Bitcoin and Ethereum. 

[embed]https://twitter.com/VitalikButerin/status/1341219519545556992[/embed]
<h2>Buterin Calls Out Ripple for Associating Top Crypto with China</h2>
The major reason why Buterin calls out Ripple is that it associated both Ethereum and Bitcoin with China. Ripple claims that both the top crypto might be <a href="https://www.cryptoknowmics.com/news/garlinghouse-believes-china-is-leading-us-in-crypto-regulation/">centralized</a> by the Chinese government, hence, it claimed <a href="https://www.cryptoknowmics.com/news/ripples-cto-explains-why-xrps-transactions-cant-be-blocked/">XRP</a> as a better alternative to them. According to the article:

“The Bitcoin and Ethereum blockchains are highly susceptible to Chinese control because both are subject to simple majority rule, whereas the XRPL prevents comparable centralization.”

Along with this, Ripple has also asserted several other reasons for claiming why XRP is better than Bitcoin and Ethereum. Moreover, it claims that XRP is based on an open-source blockchain and has a <a href="https://www.cryptoknowmics.com/news/moneygram-reported-113-million-profit-due-to-alliance-with-ripple/">fully-functional currency market</a>. Buterin has also called XRP "shitcoin" in a response tweet after seeing the article. 
<h2>SEC Filed Lawsuit Against Ripple</h2>
The major reason behind posting this article and drawing this comparison is that recently, the SEC has filed a lawsuit against Ripple. According to the <a href="https://www.cryptoknowmics.com/news/us-sec-accuses-ripple-of-violating-investor-protection-laws/">lawsuit</a>, Ripple has violated the Investors-Protection law by selling XRP. The SEC believes XRP to be a security and hence it should have been registered with the commission. As soon as the news came, it started inflicting on <a href="https://www.cryptoknowmics.com/news/dangerous-xrp-triangle-and-risk-of-the-fall-to-037/">XRP’s price</a> as it dropped by almost 14%. It has been claimed that this is the biggest case that the SEC has filed against such a prominent firm.

Buterin Calls Out Ripple by Stating XRP as Shitcoin

Buterin calls out Ripple for comparing both Ethereum and Bitcoin to XRP and claiming the top cryptocurrencies to be centralized by the Chinese government.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

Buterin Calls Out Ripple by Stating XRP as Shitcoin

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