Clicky

Stablescoins Could Use Ripple’s XRP Ledger

RippleNet provides a secure, convenient and easy-to-use wallet for XRP holders in a Blockchain-based financial services network, and features in its own Stablecoins will grow.

Since its inception in 2012, RippleNet has been significantly grown. Consumers of the program have long been able to transact on a shared booklet. You may soon be able to use a feature in the network that allows you to mint asset-supported tokens on your XRP ledger such as stables.

The Chief Technology Officer (CTO) David Schwartz, announced that he was working on adding new features to the cryptographic leader of the companies according to a video released by Ripple last month. To further evolve one of the more common features of the blockchain, besides “core consensus improvements, the CTO has made past statements:

“Proof-of-Work is kind of a technological dead-end.”

One feature that Ripple can reveal will allow third-party cryptocurrencies to be launched on the XRP network. Details on this function have not yet been released, but Schwartz reported that fixed-value Tokens such as stablecoins can be used to introduce:

“One of the features that I think is very exciting is a feature that would allow people to launch — well, stablecoins are the obvious use case, but it’s not just stablecoins — it’s essentially assets pegged to some external value.”

How are new features of Ripple going to stand out between other blockchains?

Many networks based on Blockchain have been able to allow stablecoins for its users. The Ripple function was especially attractive, however, as “the liquidity is guaranteed by the ledger mechanics.” 

The number of companies accessing the network in other countries and using Ripple technology has increased. Ripple has heavily invested in other transmission networks such as MoneyGram with the start of trading. Instead of others, it can break new ground to focus on developing this function.

Disclaimer:

This article has only intended for information purposes. Neither the company nor the author shall liable, directly or indirectly, for any damage or loss caused or alleged to result from or in connection with the use or reliance on any content, goods or services referred to in this article.

Latest articles

Kik Messenger And SEC Pursue Summary Judgement in $100M ICO Case

Kik messenger is seeking pre-trial summary judgment in its legal dispute with the United States Securities and Exchange Commission (SEC) over an...

BitAngels Network To Launch Virtual Pitch Events

BitAngels, the industry's first angel network for digital currency startups, is launching a series of virtual pitch events to keep linking investors...

CoinDCX Gets $3M In Funding In Series A Round

CoinCDX, a Mumbai-based exchange revealed it had raised $3 million in new funding on March 24. Bain Capital Investments, Polychain and HDR...

Horizon Blockchain Games Launches Season 0 of SkyWeaver Game

Horizon Blockchain Games' upcoming free-to-play blockchain-based card game SkyWeaver, has opened its final closed-beta season. Horizon announced on March 21 that...

Related Articles