Cardano’s founder, Charles Hoskinson, recently expressed his admiration for Ripple CTO David Schwartz, both for his leadership and intellectual abilities. Hoskinson also highlighted Ripple’s resilience in the face of ongoing legal battles with the United States Securities and Exchange Commission (SEC), suggesting that navigating through lawsuits and delistings demonstrates Ripple’s dominance in the blockchain industry.
Since December 2020, Ripple has been embroiled in a legal dispute with the SEC, which accused Ripple of conducting an unregistered securities sale through the sale of XRP. While Ripple achieved a victory in July 2023, the legal saga is far from over, with appeals still underway. Nonetheless, Hoskinson emphasized Ripple’s determination and capacity for further development.
Regarding potential collaboration between Cardano and Ripple, Hoskinson confirmed a meeting with Schwartz and Brad Garlinghouse, Ripple’s CEO, to explore possible cooperation. Discussions centered on integrating Ripple technologies into the Cardano ecosystem using Cardano’s Midnight sidechain and the Marlowe smart contract language.
Hoskinson also expressed confidence in the prospect of incorporating XRP into the Midnight network, Cardano’s privacy-focused platform. He believes XRP could enhance the sidechain’s value while aligning with Ripple’s ecosystem goals. Additionally, the suggestion to integrate Ripple’s forthcoming stablecoin, RLUSD, into Cardano was proposed to enhance connectivity and promote the growth of decentralized finance solutions.
The potential integration of Ripple’s RLUSD stablecoin into the Cardano ecosystem was a major focal point. Stablecoins serve as a bridge between traditional financial systems and blockchain technology. Incorporating RLUSD into the Cardano Midnight sidechain could benefit both networks by facilitating scalability, cross-chain communication, and adoption. Hoskinson emphasized that this integration could enhance financial stability and drive Cardano’s blockchain adoption.
Hoskinson recently likened Cardano to Bitcoin and XRP, noting their potential for long-term success despite facing various challenges. He highlighted the stability of all three projects and emphasized how overcoming challenges has contributed to the success of Bitcoin and XRP as top players in the blockchain industry.
While acknowledging Cardano’s challenges, including recent discord between IOHK and the Cardano Foundation, Hoskinson viewed such conflicts as normal in decentralized projects. He believed that addressing these issues through constructive dialogue ultimately strengthens collaboration and problem-solving among stakeholders.