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- Charles Hoskinson praised Ripple’s resilience and leadership, emphasizing its ability to overcome legal and regulatory challenges.
- Cardano and Ripple are exploring collaboration opportunities, focusing on integrating XRP and Ripple’s stablecoin RLUSD into Cardano’s ecosystem.
Cardano’s founder, Charles Hoskinson, recently expressed his appreciation of Ripple CTO David Schwartz, both for leadership and for his intellect. Hoskinson also pointed to Ripple’s stability as it continues to fight legal battles with the United States Securities and Exchange Commission (SEC). He stated that being able to get through lawsuits and delistings is a sign of Ripple’s dominance in the blockchain industry.
Since December 2020, Ripple has been in a legal battle with the SEC, where the latter accused Ripple of conducting an unregistered securities sale through the selling of XRP. Although Ripple secured a win in July 2023, the case is far from over, with appeals still in progress. Nevertheless, Hoskinson underlined the strong will and ability to develop Ripple further.
Exploring Collaboration Between Cardano and Ripple
Hoskinson also confirmed the meeting with Schwartz and Brad Garlinghouse, the CEO of Ripple, to discuss the possible cooperation between Cardano and Ripple. Highlights of the conversations revolved around the deployment of Ripple technologies within the Cardano ecosystem using the Midnight sidechain of Cardano and the Marlowe smart contract language.
JUST IN: #Cardano $ADA Founder Charles Hoskinson says "David Schwartz is brilliant, it's a lot of fun being in meetings with him. #XRP was delisted, excluded, Ripple was sued, and even when they won, they still had to fight. $XRP, Cardano, and Bitcoin have a bright future." pic.twitter.com/rLNoLLOByW
— Angry Crypto Show (@angrycryptoshow) December 22, 2024
Hoskinson also shared his confidence in the possibility of integrating XRP into the Midnight network, which is Cardano’s privacy-focused network. He believes that XRP can add value to the sidechain while supporting Ripple’s ecosystem objectives. Furthermore, the adoption of Ripple’s upcoming stablecoin, known as RLUSD, into Cardano was suggested to amplify the connectivity and foster the growth of DeFi solutions.
Marlowe smart contract capabilities were also brought up in relation to Ripple’s ecosystem since it could help with the creation of tailored contracts and the RLUSD integration. As pointed out by Hoskinson, these features make XRP and RLUSD more suitable for Marlowe than Cardano native currency ADA.
Ripple’s RLUSD Stablecoin and Its Potential Impact
One of the major discussion points was the integration of Ripple’s RLUSD stablecoin into the Cardano ecosystem. Stablecoins are used as a medium to bring traditional financial systems into the blockchain ecosystem. Incorporating RLUSD onto the Cardano Midnight sidechain may help both networks with scaling and cross-chain communication and increase adoption. Hoskinson explained that this could help improve financial stability and increase the adoption of Cardano’s blockchain.
Recently, Hoskinson compared Cardano to Bitcoin and XRP, stating that all three projects have the potential to succeed in the long run despite the many challenges they endure. Hoskinson also compared Bitcoin, XRP, and Cardano and noted that all of them are quite stable.
He pointed out that Bitcoin overcame scaling and market fluctuations challenges, and XRP had to deal with legal battles and regulatory problems. According to Hoskinson, these challenges only help both networks, which are now the top two players in the blockchain space.
Cardano has also not been without its own sets of problems. Recent discord between IOHK and the Cardano Foundation is evidence of the normal power struggle that is expected in a decentralized project. According to Hoskinson, these conflicts are inevitable and are actually a positive factor that helps the parties involved to better discuss the issues and work together.
