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Ripple’s Xpring Introduces Smart Features to XRP Ledger

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Xpring

Xpring

XRP is now the third-biggest cryptocurrency in the world by market cap, and much of the credit for its success goes to the San Francisco-based Fintech company, Ripple Labs. In a new development that should come as a major boost to Ripple holders, the company announced on Monday that it has come up with two new versions of the XRP Ledger. The announcement was made through the Ripple subsidiary, Xpring.

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The company has announced two new versions of the ledger in order to improve the services it provides to its clients. This is a significant development for both the company and also for the XRP ecosystem.

There are going to be significant upgrades in the new versions of the XRP Ledger. For instance, handshaking protocols, better packet building, and a slew of bug fixes, among others, are going to be on offer. The company is going to oversee the deployment of XRP Ledger 1.5.0 on the XRP Ledger Testnet on April 15. That will give developers that chance to test out the new version thoroughly by way of XRP mirrors.

Xpring is also going to upgrade the XRP Ledger on its servers. Xpring is the commercial arm of the Ripple.

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Mark Yusko, the Chief Executive Officer and founder of Morgan Creek Management, has raised questions about the centralized nature of Ripple’s operations. As everyone knows, cryptocurrencies, by nature, are supposed to be decentralized, but in an interview, Yusko stated that he struggles to understand the dynamics between Ripple and XRP.

He went on to add that this particular relationship between the two is the reason why XRP is not a part of his crypto index. The Crypto Index Fund, managed by Morgan Creek, is one of the most influential indexes in the crypto market.

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Ripple Launching XRP Third Party Developer Platform

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Ripple

Ripple

Ripple has announced it is launching a new platform that will allow developers to integrate both fiat and cryptocurrency into any app.

The platform is being developed by Ripple’s Xpring division, the investment branch of the company, and will provide developers access to a range of services such as an Xpring software development kit that allows for the integration of XRP apps in multiple programming languages. Xpring was launched in 2018 with the intention of enabling the Internet of Value, an online ecosystem allowing for the seamless movement of money.

Xpring’s senior vice president Ethan Beard said, “Xpring SDK allows you the developer to use the XRP ledger simply and in any programming language you want. What takes a developer today a 100 lines of code to do a transaction on XRP ledger, using Xpring SDK cuts that down by 80 percent.” Beard said that this platform will function like Amazon’s Web services in that developers can download the code and run it themselves, or go to Xpring and plug into the service.

On top of today’s announcement, Ripple has also unveiled a new partnership with BitPay to enable businesses to accept XRP as payment by the end of the year. BitPay is a leading cryptocurrency payments service that had, until recently, only accepted Bitcoin but in recent weeks has added Ethereum and now Ripple’s XRP. With BitPay onboard, users can now make payments to companies such as Microsoft and AT&T using XRP.

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Last month, Ripple announced that Xpring had acquired payment platform Logos Network to help develop decentralized financial products. The acquisition brings Xpring’s team to 32 with the addition of nine new engineers, a substantial increase from just two team members back in May. Logos Network founder and CEO Michael Zochowski will join Xpring as the Head of DeFi products.

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Ripple Invests in Cybersecurity Startup Funding Round

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Ripple

Ripple

Ripple has invested in a $2.2 million USD seed funding round by London-based cybersecurity startup Keyless via its investing division, Xpring. Keyless claims to be the first company in the world to combine biometrics with secure multi-party computation.

Xpring was launched in 2018 with the intention of enabling the Internet of Value, an online ecosystem allowing for the seamless movement of money. Since then, it has evolved into more of a startup investment arm of Ripple, funding unique and high-potential projects in the world of crypto in order to enable widespread adoption of digital assets. It is unsure exactly how much it has invested in Keyless, but it is believed to be one of the more sizeable investments alongside venture fund Cryptos Capital.

Ethan Beard, Senior Vice President of Xpring, said Ripple has made this investment due to the potential for widespread adoption across a range of industries. “During our technical review, we found Keyless’ solution to be clever and well thought out. We believe Keyless’ solution will be particularly welcomed by wallet providers and exchanges to accelerate the verification process for crypto holders.”

While Keyless’ technology still remains under development, the company recently completed beta testing with two crypto wallet customers for its first product, the Keyless Authenticator. The authentication technology is said to protect personal data across cloud, mobile, and internet-of-things technologies by allowing users to split up multiple parts of their biometric information, such as the face or fingerprint, and send the encrypted data to multiple nodes.

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Ripple’s investment branch has been busy at work funding various projects, having recently acquired payment platform Logos Network to help develop decentralized financial products. Last month, it launched a new software development kit that allows for the integration of XRP apps in multiple programming languages, providing far greater scope for the development of unique blockchain products.

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