Ripple is developing a feature that could allow users to mint asset-backed tokens directly on top of XRP Ledger, the firm's tech chief has said.
In a company video released Thursday, CTO David Schwartz said Ripple is working on "Exciting" new features to broaden the ledger's functionality and allow third-party users to introduce new cryptocurrencies into the XRP ecosystem.
Although Schwartz did not go into detail on what exactly the new features are, he did say they could be used for launching fixed-value tokens on XRP Ledger.
Schwartz said asset-backed tokens on XRP would have "Guaranteed" liquidity because of the ledger's mechanics.
Schwartz previously outlined how a fully-collateralized XRP stablecoin could be liquid on his Youtube channel last October.
Rather than creating separate markets for each and every digital asset, trades take place in XRP so the stablecoin remains liquid irrespective of its popularity, he explained.
At the time, Xpring's senior VP told CoinDesk the acquisition would help Ripple create new financial products on XRP Ledger.
During Thursday's video, Schwartz said Ripple had explored additional use cases before, further suggesting the ledger already has some un-utilized functionalities built into it.
In the "Early days," Schwartz said, the engineering team "Started to realize the properties of the algorithms we'd developed allowed us to do things, like a decentralized exchange."
UPDATE: This article has been updated to include the fact Schwartz had previously outlined a plan for an XRP stablecoin on his Youtube channel last October.
Third-Party Cryptos Could Launch on XRP Ledger, Says Ripple's David Schwartz
에 게시 됨 Feb 28, 2020
by Coindesk | 에 게시 됨 Coinage
Coinage
이 기사에서 언급
최근 뉴스
모두보기
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.