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Hello this is Matt on the moon Lambo Channel my fellow xrp holders we need to Be honest with ourselves about what's Going on with xrp a couple days or so Ago my fellow xrp YouTuber the Blockchain backer shared data from Electric Capital which runs the website Developer report and shows among other Things developer activity across various Blockchains so that you can see what Chains are being adopted you come to all Sorts of conclusions based on real world Data which is highly useful and um I He's the reason that I'm aware of this Existing and probably honestly most of The people in the xrp community that are Aware of this uh know about it thanks to The blockchain backer that would be my Guess and he's really done a great job In breaking down into uh the data doing His best to come to conclusions and I Think it's fair to say not to put words In his mouth but having listened to him Speak on this topic it seem seems to me Like a major takeaway is we need more Developer activity if you want xrp to be Long long-term viable we need people Building on this damn thing now Certainly on a conceptual level on an Intellectual level yes duh obviously Absolutely I 100% agree and I think it's Easy for the vast majority of us to just Say yeah of Course I I do want to talk about the

Degree to which we are in serious Peril Or perhaps not and I am very willing to Be persuaded on this topic I just want To progress the conversation that's my Hope with this video want to progress The conversation and get people thinking Um are we in serious trouble now is is Is the state of De developer activity or Lack thereof on The xrp Ledger is that The reason that the price of xrp is Where it is is that why it's so low well Let's talk about these things because There are some very good points made by The blockchain backer and it spurred a Lot of conversation on uh on social Media platform X which is basically Where the xrp community lives and I Enjoyed reading through a bunch of it uh Way too much for me to highlight most of It of course in this video uh but I'll Share a couple posts uh just to kind of Get things going in a particular Direction but before going further I do Want to be clear I do not have a Financial background of any kind I am Not offering Financial advice and you Definitely should not buy or sell Anything because of anything I say right I'm just an Enthusiast who enjoys making YouTube videos about crypto related Topics but just as a hobby and just for Fun so developer report I'm assum Assuming that at least some of you are Aware of this site um here you can see

At the top left and this is but this is Free so any of you watching if you just Go to developer report.com you can see This data for yourself you can poke Around through it it's interesting I've Looked through it a fair bit and you can See that in the entire crypto space out Of everything that's tracked here there Are as as the as of the end of 2023 Anyway 6,889 full-time developers building on Top of various blockchains 6,889 and so I'm not going to read all Of the the the the chains but um if You're looking at the screen you can Kind of see I'm scrolling through here You can see ethereum's got the most Developers uh by Longshot 2392 followed By polka dot with 792 polygon 790 Cosmos 669 and you can just kind of scroll down And see that the numbers quickly drop Off they drop off by a lot very very Very quickly and um you know there There's a question as to as I cited at The outside of the video is to to what Degree does this matter well I already Know the blockchain backer has has poked Through a lot of the data and found that There is a correlation a meaningful Correlation in terms of developer Activity and what that meant last Market Cycle uh in terms of price appreciation Unquestionably that that's data like of Course I agree with that that makes all

The sense in the world um so not Disputing any of that just to be super Duper clear I'm just kind of I am going To be thinking outs out loud to some Degree so like this is kind of a stream Of Consciousness and again totally Willing to be persuaded on anything that I'm saying here because this is early on In me thinking through this although I I Spent a fair amount of time thinking Through this but uh let's note a few Things that I want to share with you Some thoughts so if you look at uh Full-time Developers for Bitcoin there Are 356 full-time developers 356 but then if you go to here actually Let's look at ethereum next there's 2,392 Developers so obviously right there you Can already see that in terms of a Developer activity that's not a perfect Indicator as what's going to be as to What's going to be ranked high and price So there are other things that obviously Are being considered when it comes to Price appreciation and not all chains Are going to do all things ever Obviously and some chains based on Certain functionalities are going to be Able to do more things than others just By the nature of their code doesn't mean That Cod that that other chains that Don't um have such broad uh

Functionality can't be widely adopted Necessarily I mean look at look at at Bitcoin it's basically only used as a Store of value but there are still lots Of people actually building stuff on 356 Of them but this is where like the Largest individual chunk of capital has Flown into the world of crypto I mean Look at bitcoin's market cap at the time I'm recording this $815 Billion ethereums is way less than that Yet there's no sign that bitcoin's going To be dethroned anytime soon is there Ethereum's market cap 293 billion so a Little over a third of what bitcoin's Market cap is but in terms of again the Developer activity it's not even close With Bitcoin having 356 devs and Ethereum a staggering 2,392 and these are full-time developers Right now now is that really surprising Though does it mean that bitcoin's going To be dethroned well no so there is more To the picture obviously even though I Firmly believe that what the blockchain Backer saying is correct there's no I Don't think I there's nothing that would Be there's no no way that it would be Reasonable to deny that right but There's there's there's got to be more To it right because otherwise if you're Just about developer activity Bitcoin Can't do much of anything it's the least Sophisticated lay one technology out

There yet it's number one in market cap Okay so there's something to be said for Something to to for something when it a Technology when it becomes a standard There's something to be said for staying Power and when when when technology is Adopted even if it's not crypto related It's hard to supplant if it's being Adopted for specific things it's hard to That technology unless you have Something that is substantially better I Would say just speaking in general terms Just Conceptually so wouldn't that apply to That concept also be something that Would apply to everything out there Wouldn't that apply also to ethereum Wouldn't it apply to xrp perhaps because Xrp um here you here you can see as of The end of 20123 45 full-time deps as opposed to Ethereum's 2,300 192 xrp is 45 though again Bitcoin 356 so I have some thoughts on this First of all it is true that recently uh We've seen a decrease in developer Activity for xrp although although as of This report which again is only to the End of 2023 um you know it's it's mostly been Moving sideways since what call it February of last year it looks like it's Just kind of moving it the fulltime if You look at the screen you see what I'm

Talking about here it's been up and it's Been down you know but it hasn't been Substantially different it's mostly been For the last 12 months mostly moving Sideways so technically down I think if You look year over-year by a little bit But you know what's fascinating about That if you look at the percentage Decrease you can see that there are Substantial declines on other chains too In fact if you take a look at ethereum For example look here's here here shows The monthly Act of developers Right look look at what happened in 2022 Decline decline decline so what what What happened in 2022 Though uh the wheels fell off the car Right FTX explosion and you know what Preceded all that 2022 was a dumpster Fire of a year in terms of price action Money flowing out of crypto obviously Funding drying up for all sorts of People working on various things it's Not terribly surprising to see a mass Exodus and and we could talk about why This was you know the first time we've Ever seen a drop like this because that Is different and um I don't pretend to Have the answer for that I just note That it is different but I also wanted To say this is true pretty much across The board you could find some outliers Perhaps but this dip is it's so it's not Like xrp is taken an absolute beating

But it is down and we do still need to Be aware of this and that's why I'm glad That we're having this conversation as a Community right so it's down but it was Also a disaster of a year and it doesn't Mean that that directionally is going to Continue continue that it'll continue to To look specifically like that and there Are other things to Consider um and which actually let me Just bring up cardano one one more Example uh here's cardano uh smart Contract functionality 170 full-time Developers and but still what are they In market cap now number eight in market Cap so all I'm saying is that although Unquestionably developer activity plays A major role in price appreciation it's Not the only thing and so the idea that I'm toying with here Is uh to what degree does it matter with For for xrp specifically and look I to Be clear I want more develop developer Activity for xrp and The xrp Ledger Anything we can do to amend the xrp Ledger so that it has more functionality That's not going to risk its core Competency as a payments uh blockchain And anything along those lines I say yes We should push which is why I'm glad We're talking about this and I'm glad That the blockchain backer brought this To the for front of everybody's

Attention and I love that he was pushing Back against all the Riddlers and the Conspiracy theor nonsense because that Is the bane of my existence oh my God I Hate that stuff I despise The Conspiracy Theor Theory nonsense and there are so Many large influencers in the xrp Community that like that's their bread And butter and I just look at I can't Help but roll my eyes it's just the most Absurd crap but my God some of some People out there on social media they Just have massive followings pushing the Craziest crap that's not going to help Us to have real world adoption and we Know that um developer activity does Matter so is it better to focus on this Are conspiracy theories and that's one Of the points I think the blockchain Backer was making totally agree totally Agree with that he's absolutely spot on With this but I wanted to point out that Um The xrp Ledger as you well know I'm Sure does not have Smart contract Functionality so shouldn't we expect Given that you can if you CU look if There's a blockchain that has smart Contract functionality wouldn't you Assume that there's infinitely more Stuff that you can do in terms of Building on top of that blockchain you Would expect that right so is it a Surprise then that Bitcoin doesn't have That many devs I mean sure it's got way

More than xrp but considering how much Money has flown into it the fact it's Number one in market cap it doesn't have That many full-time developers does it I I would say no comparatively speaking But then you you know you look at in Fact if you look at that compared to Market cap xrp is smashing Bitcoin to Pieces actually that's true so then the Fact that xrp has 45 full-time devs is That actually looking too bad Comparatively no it looks better than Bitcoin comparatively not that we want To be at the level of Bitcoin from a Functionality perspective our develop That's not the point that I'm making I'm Just sharing thoughts here um and by oh I want to mention this before I forget It I had a conversation with a ripple Employee who who actually disputed this Number by the way the employee that I Spoke with said that this information is Incorrect and that Ripple alone has more Full-time employees working on The xrp Ledger than is listed here at 45 so that that is a question mark also So I don't know exactly how the the data Is is uh ascertained but I had a ripple Employee directly tell me that no There's way more so I don't know to what Degree this is off if indeed that Ripple Employee is correct but I was told to my Face yes that that this is not a correct Number so in theory it could be higher

Okay just that's that's another question Mark because I don't know exactly what That means or if the data is incorrect Why it would be incorrect I don't have That answer I'm just telling you what I Was Told but um but but again if you're Talking about you know xrp having been Adopted broadly across the world for Over a de a decade um like there is such A thing as becoming a standard as proven By the fact that Bitcoin is number one In market cap could could that be a Factor for xrp and I think it's a factor For every crypto xrp has become a Standard for certain things it it has Been adopted it has reached what we Would call like a network effect that's Why Ral Paul is always talking about you Know uh the the network effect of not Just Bitcoin but eth and xrp even he has Said that it's just you get this uh you Reach a certain place where it's just Like the Network's there it's live you Know it's it's not getting smaller Exponential increase over time and That's and so the question is have we Reached have we really reached that and Probably yeah I mean it it does it's Been over a decade here you know the the The entities that are using xrp I don't See there being danger of them not using It but the question is of course is the Money going to follow uh as a result to

What degree does it actually Matter um and so there's also this Shared by this is a screen grab shared By xrp Community member Cals and it was A screen grab from um uh blockchain Backer stream here and it's just showing Which ecosystems Drew in newcomers in 2023 and you can see ethereum at the top Here and you can see xrp if you're Looking at the screen way way way way Way way way down here and so it's a good Point to make that you know okay it's Kind of interesting that's that's how Many were drawn in yet xrp is still Number one in market cap so that's why I'm trying to figure out how do you wait The importance obviously developer Activity is crucial and I know xrp again Developer acity recently slightly down But the whole Market is down so is that Xrp specific I I don't know for sure I I Mean as things grow like there's there's Always opportunity to do better of Course but um to what degree what I'm Asking is and I don't have the answer But to what degree do we need to wait The importance of staying power once Something is adopted is there a place For a cryptocurrency where even if on Lirer one it never has smart contract Functionality which would allow you to Build a whole bunch of stuff if you did Have it is there a place for such a coin If it's just good at other stuff like

Payments because it looks to me like the Answer is yes it looks to me like the Answer is yes there's a place for a coin Like Xrp so are we heading in the wrong Direction look over the past 10 years I'd say no we've been heading in the Right direction on the whole in in the Very short term are we well the whole Market is see that's that's why I'm just Asking I'm not pretending to have the on This this is why I want to spur on more Conversation on this and I'm glad we are Talking about this I really genuinely Am here's perspective from xrp Community Member uh Panos and he reposted this This chart which was from back the Blockchain backer also shared by calx Here and Panos who I think is a rather Insightful individual he's he shares Very thoughtful threads regularly on X Uh blogs the the whole nine yards a very Well-informed individual so I value his Perspective and here's what he got to Say about this Xrp Ledger is an amazing technology with Lots of features and developer friendly But unfortunately that's not enough by Itself some reasons for this other than The misinformation and the Damage it has Done all these years is also the lack of Good marketing and exposure incentives To attract new Builders projectd Developers and finally useful apps and

Active users instead of passive holders There are some great builders in The xrp Ledger ecosystem doing things but we Need more I am confident that with a Community and Builders uh Builder effort And with upcoming features such as the Uh amm evm side chain and more we will Make xrp Ledger one of the top chains And ecosystems totally fair I think That's a good that I think that's a good Point I want to add a couple things Because I did write back to him and Shared some thoughts but there are two Things which um I don't think I included In that comment so I want to say while I'm remembering them wrap the top of my Head number One you know the price of xrp is what it Is despite the fact well largely because Of the fact that the SEC artificially Suppressed it for years on in because of That BS lawsuit I think that's very fair To say and so I can't help but Wonder to What degree were developers over that Time period scared off not all of them Were obviously for a long time we were Still heading in the right direction Despite that but undoubtedly price Obviously hit obviously hit so that had To have impacted to some unknowable Degree developer activity still Impressive that xrp is where it is in Market cap despite that also in terms of Developer activity I got to wonder how

Many developers aren't even willing to Look into it just because of Ripple's Holdings because that's something we Can't control with is that a turnoff for Any reason for various um various Potential xrp Ledger developers so That's another question I've been have Having floating around my head I don't Know if there's a way to know that I Don't know if we do a bunch of surveys With the perhaps and maybe somebody Could try and figure it out that sounds Like it would be a boatload of work but Perhaps that's a factor as well maybe Not the most important factor but Something Perhaps but um you know I still have a Feeling that perhaps and I could be Wrong but perhaps it's the case that the The biggest reason we're seeing what We're seeing is because there isn't Smart contract Functionality um and so you can still Build stuff obviously you can have side Chains of course but I'm wondering if Perhaps despite that being the case and Of course we all want more developer Activity and we should push for that and Support that as a community perhaps we Need to consider uh the degree to which Xrp stain power is to some degree just Planted in the system here it's got the Stain power because it was one of the First cryptocurrencies ever and it's

Functionally useful and maybe just Because of the like where it is right Now in the degree to which there is Developer activity now perhaps that's Enough to sustain it now if that's not The case if it's the case that developer Activity is more than what I might be Guessing right now then yeah xrp could Fall out of the top 10 no it doesn't mean it would all go to Zero it's not like all the these Developers would stop but it would stop Being one of the most significant coins Out there so the question is like do you Want to risk that which is why I say Hell no what we need to do as a Community is what the blockchain backer Was saying he spot on with this and we Need to have a discussion about this and Support and encourage further Development any we can do now again We're still going to be handicapped to Some degree if it's the case that uh my Supposition is correct and most Developers want to have Smart contract Functionality because there's just more Stuff you can do on Smart contracts Platforms that's something we can't help Unless there's a an amendment you know If you get the hooks Amendment past okay Doesn't look like there's any sort of Thirst for for that that's why we say Wiwi off you know him running xrpl labs And started as a how Network the side

Chain uh so it is what it is and weay Win by the way he did say That you know and I'll have to Paraphrase here but he warned that if The xrp Ledger doesn't adapt and get That smart contract functionality that We're basically going to risk becoming The Nokia of blockchains that's what he Called it and you know what happened With Nokia phones right and if you don't Then you're probably pretty young Because you have an apple right or you You got some sort of Samsung product Whatever it is so that that's a very Reasonable warning and I'm glad he said What he said um I don't have all the Answers but I just wanted to use this Platform to maybe spur along some Conversation just share some general Thoughts here uh but here's what I wrote To Panos I wrote I completely agree I'll Add that perhaps the biggest reason for Fewer developers on The xrp Ledger is That there is no smart contract layer One functionality that notably limits What devs can build and thus overall Developer activity that actually makes a Lot of sense however there is clearly a Place in this market for a blockchain Like The xrp Ledger and a cryptocurrency Like xrp that is just really really good At payments in general xrp seems to have Cemented a valuable Niche uh in this

Regard so to speak and the blockchain Just works even though I do believe that I would agree with anyone who believes There should be a stronger push for Greater developer Adoption and Panos responded to me and Didn't completely agree which is Perfectly fine uh just to be clear to Anybody listening if you're newer I do Not get offended by ideas that are Different than my own you can tell me You're wrong and as long as you're being Tactful I will appreciate that you're Telling me you're that I'm wrong uh in An adult fashion and I like conversation I even think debates are fun I don't Like arguments but debates are fun you Can tell me I'm wrong all day as long as Everybody's being civil like that's the Right way to do it we should be adults Um and so anyway Panos uh wrote to me And said the following I wouldn't say It's the lack of smart contracts as it Is that uh most blockchain developers Don't even have a clue about xrp Ledger And its features xrp Ledger might not Have native smart contracts but it has Built-in SC features without the risk of Them which makes building specific apps Around payments or tokenization a lot Easier and straightforward when I Personally talk to non xrp L devs they Don't even know that it has a DEX Decentralized exchange or that you can

Create tokens or even in what language You can write code yeah and so I think That's insightful and fair enough Point As well uh you know just because xrp Ledger doesn't have Lin smart contract Functionality it doesn't mean that it Can't be better at certain building if You build certain things on top of it as Compared to ethereum that's obviously True my my only point in in talking About you know focusing so much on the Smart contract is that I still do think You can do more stuff if you have that Functionality but of course yeah I agree With him you could certainly undoubtedly As he cited here build certain things Would be ideal for it um that you know Be better than certain other smart Contract platforms and it may very well Be the case that not enough enough Developers know about that so how are we Going to get the words how do we even Reach the developers because there are So many people building on various Blockchains around the planet they they Don't even announce themselves for a Long time until they built a product how Do we reach these people anyway and that I'm curious about as well I don't have The answer for that again I'm just Trying to Spur conversation here this is What we should be talking about Obviously um and so as far as whether or Not he's right about smart contracts not

Being the biggest deal um I admit I'm Not 100% sold on my my own idea I I Think it might be the the reason for This um not 100% so though I'm willing To be persuaded show me some data I can Be persuaded um if you can show if Anyone can show me data that indicates That most of the developer activity out There um you know doesn't have to do With smart contract functionality Anything to that degree I would quickly Be persuaded but my supposition without Seeing data admittedly without seeing Data is that a large chunk of the stuff Being built will require smart contract Functionality so I don't know if anybody Has that data anywhere I haven't seen it I don't even know where to look for that But if somebody has that I'd be super Curious to see it because that would Kind of answer the question either xrp Is going to always be behind because it Doesn't have that capability or it won't Matter as much perhaps as I'm thinking In which case yeah we need to get the Word out there but I can't answer those Questions because I'm lacking data That's what I'm saying here so in terms Of price action um I I'm not I'll word It like this I'm not concerned in the Immediate future like say over the of This bull run in particular that we've Got coming up here the developer Activity it is

There you know xrp is a fixture in the World of crypto today in 2024 the time I Record this maybe that changes in the Future falls out of the top 10 I hope Not but okay um but I I just I don't see Enough to Think without additional data I can't Say for certain to what degree things Are horrifically wrong or not Horrifically wrong that's the way I Could it off the top of my head I need More dat but that's why again I want us To talk about this further and I need to Hear what you guys think about this what Am I getting right what am I getting Wrong am I on the light right track at Least in terms of the way that my Brain's trying to think through this you Guys let me know here but um to be clear U i I'm still Mr xrp Bull like that has Not changed it has been genuinely Adopted there are real people building Real things and Always like there's and all the side Chain there's so much potential out There and given that xrp is already a Fixture in this space if you're going to Draw attention new attention to a a Blockchain it should be easier for our Community to do that because we are Composed of like I an Untold number of People potentially in the mill I don't Know how many people are in our Community but we are a gigantic Force we

Are a huge Community if anybody can draw Attention to the platform not that I Know the right way to do that right now Um but if any Community can do it it's Us we are a huge Community absolutely Gigantic there's a reason xrp is where It is because we we we're aware of this Stuff we're aware of what's going on so I'll just leave it there for now let me Know what you guys think again like I Was asking a minute ago do you think I'm On the right track am I not what are Your own personal opinions but whatever You think I hope that you appreciate That the blockchain backer really got This conversation started because this Is what we should be talking About xrp unquestionably is way behind In terms of developer activi it's just a Question of to what degree is that a Problem and what can we do to fix it in A nutshell I suppose that's it and those Are the things we should be be talking About I'm not a financial adviser you Should not buy or sell anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo


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