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.
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