- 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, a blockchain startup has announced some important announcements during the Korea Blockchain Week. The company’s goal is to boost the crypto infrastructure and drive more institutional adoption.
Ripple now works to improve the XRP Ledger’s programmability through the introduction of smart contracts on the mainnet as well as within the ecosystem. CNF says that this will help developers to leverage the XRP Ledger’s enhanced capabilities and accelerate innovation. report.
Ripple has adopted a dual-pronged strategy to increase 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.
The introduction of smart contracts also enables new layer-1 functions such as payment channels and authorized trustlines as well as DEXs. This new set of features combined with the speed and low costs of XRP Ledger makes it a great tool for driving everything from traditional finance applications to innovative new ones. Ripple’s community also demands that XRP Ledger move away from centralized controls and take the decentralized path. reported Crypto News Flash
The XRPL Labs Hooks which defines the smart contract standard currently in use provide a foundation upon 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
Ripple, in addition to the financial markets and Metaverse, is expanding into new industries. 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 is clearly trying to get a share of the growing crypto custody market. This is estimated to reach $10 trillion in 2030. This will be done by the blockchain startup providing an advanced governance framework and safeguarding digital assets including bonds, stocks and commodities. Ripple, according to CNF, has been developing a multipurpose token for the XRPL. report.
Ripple University Blockchain Research Initiative welcomed Korea’s Yonsei University, as the 58th Global Partner. Ripple’s University Blockchain Research Initiative (UBRI) has received over $60,000,000 in funding. Through strategic support, grants and technical resources, Ripple is advancing academic excellence and cutting edge research.
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Source: www.crypto-news-flash.com
