David Schwartz stated that XRP is 57,000 times more sustainable than Bitcoin.
CTO David Schwartz, one of Ripple ‘s most authoritative executives after the CEO, announced the “key difference” between XRP and the leading cryptocurrency Bitcoin. Touching on the environmental friendliness that many Bitcoin critics have touched on , Schwartz said that BTC is not suitable for a sustainable world.
Bitcoin Damages the Environment
Stating that the Proof-of-Work based Bitcoin protocol harms the environment and consumes electricity, Schwartz emphasized that XRP is 57.000 times more environmentally friendly compared to this. Underlining that the fourth largest cryptocurrency by total market value is 57,000 more sustainable than Bitcoin, Schwartz also compared the energy consumption of the two cryptocurrencies.
According to Schwartz, 4.51 million bulbs can emit light for 1 hour in exchange for the energy required for each million Bitcoin transactions. However, in return for the energy required for each million XRP processes, 79,000 ampoules can emit light for 1 hour.
Stating that many cryptocurrency projects are trying to be environmentally friendly and sustainable like XRP, Schwartz stated that this is a difficult target. Emphasizing that even fiat money is not environmentally friendly, the experienced name stated that XRP will gain more use with this aspect and that they do not prefer the Proof-of-Work protocol.
In contrast, the majority of investors criticize the Ripple network protocol, which does not have a Proof-of-Work model and allows a record amount of XRP to be given to managers in the early days of the network.