Name Price24H (%)
Bitcoin (BTC)
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-0.20%
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$353.23
-0.18%
XRP (XRP)
$0.240538
-0.76%
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$45.89
-0.82%
Ripple’s (XRP) Cause for Adoption
ANALYSIS, COINS

Ripple’s (XRP) Cause for Adoption

Ripple since its development and ICO has momentarily made its mark in the market soaring to around $3.1 to one ripple in 2017.

It deepen its root in the market and blockchain industry and has remained firm ever since, the “crypto winter” has it was called blew in the year 2018 and ripple was unshaken it didn’t stop there ripple offered advanced blockchain technology for global payments whereby making easy for financial institutions to attain a trusted, growing network of 500+ providers across six continents which included AmerianExpress, MoneyGram, Santander, Ria the list goes on.

Accumulating all these achievements hasn’t made it as widely used as it should thereby fallen behind Ethereum, Dash and the likes. These led to Ripple’s fundraising and development arm Xpring which is a platform that provides developer tools and programs to integrate medium of exchange like money into your apps to come up with new details on its drive to more adoption of the asset.

New development relations initiative is undertaken by Xpring to engage engineers building on Ripple’s (XRP) ledger across the globe. This is designed to give people a central hub to share contents, discover events and mount support. As said by the product manager Warren Paul Anderson “ Today, we are focused on producing the content that makes it easier for developers to access blockchain technology and digital assets through; technical documentation, sample code, tutorials, video demos and written post on our blog and new forum.”

The new communication tools to help build the ecosystem to include a forum and community page. Ripple is looking to curate content to foster developer access to blockchain technology and digital assets. Meetups, conferences and hackathons are another approach and plan by Xpring to make its presence felt.

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A software development kit(SDK) was launched last year December to help developers integrate XRP based payments into their products this has led to allocating of $500million worth of XRP to fund businesses building on crypto and blockchain, these were achieved by Ripple’s investment arm.

What Is Ripple?

According to binance academy

Formerly known as OpenCoin, Ripple is a privately held company that is building a payment and exchange network (RippleNet) on top of a distributed ledger database (XRP Ledger). The main goal of Ripple is to connect banks, payment providers and digital asset exchanges, enabling faster and cost-efficient global payments.

History

Ripple was first idealized in 2004 by Ryan Fugger, who developed the first prototype of Ripple as a decentralized digital monetary system (RipplePay). The system went live in 2005 and was meant to provide secure payment solutions within a global network.

In 2012, Fugger handed over the project to Jed McCaleb and Chris Larsen and together they founded the US-based technology company OpenCoin. From that point on, Ripple started to be built as a protocol focused on payment solutions for banks and other financial institutions. In 2013, OpenCoin was rebranded to Ripple Labs, which was later rebranded to Ripple, in 2015.

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