Lightning Network-powered application Strike, which brought Bitcoin to El Salvador, is seen as a turning point for the entire industry. However, not everyone is happy.
Matt Hamilton, director of developer relations at Ripple (XRP), claims that Jack Mallers’ killer app took notes from the company’s On-Demand Liquidity solution (formerly known as xRapid).
ODL allows bridging between fiat currencies with the help of the XRP cryptocurrency.
According to Hamilton, the way Strike converts Bitcoin to Tether is “strikingly” similar to Ripple’s product.
Remittances make up 20 percent of El Salvador’s gross domestic product, which could make it a lucrative market for Ripple. But the country has already adopted the Lightning Network.