Cardano’s Charles Hoskinson Downplays Partnership With XRP

Hoskinson’s XRP Stance

One of the most intriguing discourses in the crypto space is the relationship between Cardano founder Charles Hoskinson and the XRP community. The two parties have been at odds for a long time and frequently express opposing viewpoints.

Hoskinson has recently found himself in yet another disagreement with the XRP community, this time over an opinion he shared in the past. At that time, Hoskinson called the XRP community petty while criticizing the project and claiming it provides no partnership or technical value to the broader crypto ecosystem.

Following scathing responses from the XRP community, the Cardano founder has stated that he will no longer discuss Ripple and its native token, XRP. Hoskinson and the XRP community have been at odds since December 2022, when Hoskinson stated his position on the legal dispute between Ripple and the US Securities and Exchange Commission (SEC).

Following the interview, many XRP users accused Cardano of being involved in a corrupt scheme with the SEC to target projects such as Ripple. The main point of contention between Hoskinson and the XRP community was that a speech by former SEC Director William Hinman in 2018 gave Ethereum a free pass.

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According to the community, the speech aided ETH in gaining broader acceptance, while other assets, such as XRP, struggled with an unfavorable regulatory policy.

Revisiting The Past

A user on the X platform recently reminded the XRP community of Hoskinson’s previous comments on the XRP token. Hoskinson was critical of the XRP community, calling it “toxic” and stating that Cardano and Ripple would not collaborate.

Nevertheless, Ripple’s David Schwartz suggested Hoskinson reconsider his stance a year ago. But Hoskinson didn’t give any positive response to the CTO then.

When asked about it again during a recent interview, Hoskinson said he had not changed his mind about collaborating with Ripple. He further said that the XRP community had been bothering him about it for the past two years.

This refocused attention on their disagreement, as Hoskinson remained steadfast in his stance.

Different Markets For Different Purposes

Meanwhile, Hoskinson has explained that XRP serves a different purpose in the market. Unlike Ethereum, Polkadot, and Algorand, which addressed similar issues, XRP was created for interbank settlements and central bank digital currencies (CBDCs) rather than decentralized smart contracts.

He emphasized that collaboration with the XRP community was not on the horizon due to this fundamental difference in focus. Hoskinson also revealed his ongoing difficulties with the XRP community, citing personal attacks, harassment, and a lack of constructive dialogue.

According to him, instead of engaging in meaningful debate, the XRP community often responds with memes and accusations. Hoskinson dismissed these claims as “conspiracy theories,” referring specifically to the “ETHGate theory.”

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Meanwhile, the Cardano founder’s stance remained firm, based on his belief that Cardano and XRP’s objectives were fundamentally different, making collaboration unlikely.

Author: Owen Clark

Owen Clark, a seasoned crypto newsman and broker, deciphers the intricacies of the digital currency realm, empowering investors with his astute analysis and actionable insights.

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