- Ripple’s latest developments are aimed at expanding the XRP ledger’s capabilities by enabling features like NFTs (Network Feed Transactions), DEXs (Derivative Exchanges), and AMMs.
- Ripple is broadening its reach by partnering with AI and metaverse firm Futureverse to integrate Ripple Custody for secure DeFi access via the Ottó blockchain.
Ripple is a Blockchain Startup that has been making some big announcements in the Korea Blockchain Week. Their goal was to improve the infrastructure of cryptocurrency and encourage more institutions to adopt blockchain.
Ripple has now begun to work on advancing the XRP Ledger to be more programmable by introducing Smart Contracts to the mainnet. CNF says that this will help developers to leverage the XRP Ledger’s enhanced capabilities and accelerate innovation. report.
Ripple will therefore take a double-pronged initiative to improve programmability. Smart contracts are being introduced in the XRP Ledger’s mainnet and the XRPL Sidechain. The two development will work together to build a flexible and robust ecosystem.
Moreover, smart contracts enable layer-1 features like NFTs (Network Financial Transactions), Escrow (Escrow), payment channels, trusted trustlines and DEXs/AMMs. XRP Ledger’s high speed, low cost, and new layer-1 features make it a great tool for traditional finance as well as innovative applications. The Ripple Community is demanding that XRP Ledger be decentralized and not governed by a centralized authority. reported Crypto News Flash
XRPL Labs Hooks which are the smart contract standard definitions provide a foundation on which Mainnet features can be improved. The framework allows developers to further harness Ledger’s strengths, while customizing smart contracts for specific needs.
Ripple Partners AI and Metaverse Tech Firms
Other than that financial Ripple also expands its wings to other emerging industries such as Artificial Intelligence (AI) or the Metaverse. Ripple has thus partnered up with Futureverse to secure their digital assets by integrating Ripple Custody.
Futureverse will facilitate secure, KYC-verified access to DeFi through its proprietary Ottó blockchain. To ensure safe receipt and storage of cryptocurrencies before minting on Ottó, Futureverse will utilize Ripple Custody.
Ripple wants to take a chunk of the $10 trillion crypto custody market by 2030. This will be done by the blockchain startup providing an advanced governance framework and safeguarding digital assets including bonds, stocks and commodities. According to the CNF, Ripple is also working on creating a token that can be used for multiple purposes. report.
Ripple University Blockchain Research Initiative’s (UBRI), welcomed Korea’s Yonsei University to its 58th partner. Ripple has committed over $60 million to its UBRI Program, which continues to support academic excellence, cutting-edge research, and technical resources through grants, strategic support and other means.
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Source: www.crypto-news-flash.com