A recent debate on Twitter sparked a discussion about the role of newer networks like XRP in the crypto space and how they compare to Bitcoin. In a recent community debate, Matt Hamilton, former Director of Developer Relations at Ripple Labs, claimed that the XRP Ledger uses a hashing mechanism similar to Bitcoin.
Bitcoin vs. XRP
The discussion began with David Marcus, CEO of Lightspark, stating that Bitcoin is unique and cannot be replicated, though it continues to evolve. Hamilton, however, questioned why Bitcoin is being reinvented when technologies like XRP already exist. In response, Marcus argued that no other system provides truly neutral digital money.
Debating Bitcoin’s Sustainability and Decentralization
Hamilton argues that many miners are unlikely to stay in the market after the next two halvings. Marcus countered that saying rising BTC prices, lower energy costs, and higher Layer 2 network fees will encourage new miners, including those from new regions and sovereign states, to join.
Hamilton also questioned Bitcoin’s decentralization, arguing that mining pools are becoming increasingly centralized due to protocol incentives and economies of scale. He argues that XRP is more centralised as anyone can run a node, just like Bitcoin.
XRPL Uses Bitcoin-Style Hashing, Says Hamilton
Hamilton also challenged the criticism of XRP by a user, explaining that the XRP Ledger is a real blockchain where transactions are grouped into blocks, each block containing the hash of the prior block, creating an immutable record. “It even uses the same block hash and key ciphers as Bitcoin,” he said.
He also argued that XRP can be more profitable than Bitcoin, noting that if Michael Saylor had bought XRP instead of BTC, his company could be worth twice as much. He also shared that his own XRP investment has outperformed his Bitcoin holdings.
The debate highlights the ongoing discussion in the crypto world about the strengths and limitations of Bitcoin compared to newer networks like XRP. This comes as the XRP Ledger continues to evolve. Ripple recently partnered with Ondo Finance to bring tokenized U.S. Treasuries to the XRP Ledger.
The XRP Ledger is rapidly evolving into a leading platform for institutional DeFi. Over the past year, XRPL has hit $1B+ monthly stablecoin volume, entered the top 10 for real-world assets. Tools like Credentials and Deep Freeze are also live.
Meanwhile, the upcoming XRPL native lending protocol will unlock low-cost, compliant credit markets at the protocol level. Zero-knowledge proofs (ZKPs) are being developed to balance privacy, compliance, and scalability. With lending, compliance, programmability, and tokenization all coming together, XRPL is shaping up as a top choice for institutional finance.
