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TheCryptoBasic

12/04/2023

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Helius Labs CEO Asks How XRP and Cardano Are ‘Still Around,’ Community Sets Him Straight

Helius Labs founder Mert Muntaz has called out XRP and Cardano (ADA) as two hyped chains without basis, a position that has stirred a heated debate. When Mert Muntaz started the conversation, he came off as...

Helius Labs CEO Asks How XRP and Cardano Are ‘Still Around,’ Community Sets Him Straight

Helius Labs founder Mert Muntaz has called out XRP and Cardano (ADA) as two hyped chains without basis, a position that has stirred a heated debate.

When Mert Muntaz started the conversation, he came off as someone genuinely asking a question seeking to know why XRP and Cardano still remain relevant.  

The XRP and Cardano Critic

Despite the XRP and Cardano communities often being at loggerheads, some individuals like Mert Muntaz  say they are unsure what their current use cases are.

Popular crypto Sleuth, ZachXBT shared a more aggressive stance, saying proponents of the two chains act like a cult in his response to Mert’s post.

their holders act like cult members

— ZachXBT (@zachxbt) November 24, 2023

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Mert went on to state why top chains like Solana (SOL), Ethereum (ETH), Cosmos (ATOM), Avalanche (AVAX), Sui, Aptos (APT), Fantom (FTM) have good ecosystem reputation. He specifically singled out Solana and Ethereum because, according to him, both have real tech and actual startups building on them.

This sentiment likely stems from the consideration that Helius, an “RPC Nodes, APIs, Webhooks, and Developer Tooling” protocol he co-founded, sits on the Solana protocol. 

The claims of no use case saw instant rebuttal from XRP proponents who labeled the payment capabilities of Ripple’s RippleNet which has independence from the XRP Ledger (XRPL).

In setting the record straight, XRP supporters pointed out the ongoing institutional adoption of Ripple’s solutions and the role the firm is playing in charting a positive cross-border financial settlement through strategic collaborations powered by Metaco.

In the end, Mert Muntaz exonerated XRP and drew his conclusion that Cardano owns the title of being a cult hub.

Records Proof Different

Despite claims that he sees no use case for Cardano, the Charles Hoskinson blockchain’s numbers say something different.

Besides trading at a price of $0.3996 and a market capitalization of $14,187,822,115, Cardano has earned a big reputation for its staking mechanism, developer activity, and some of the industry’s most hyped innovations, including Hydra Head and Midnight Protocol.

The XRP and Cardano community members saw the Mert Muntaz move as a way to spread FUD and they responded in defense of their respective protocols.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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