Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.
The fund is managed by RippleX, entity associated with Ripple, which will allocate capital capital is most commonly defined as the large sum of money you would use to invest. to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. the development of projects that operate on the basis of the XRP Ledger. The total assets are expected to be distributed over the next 10 to 20 years.
The developer of solutions based on Blockchain, Ripple, plans to launch a new $1 billion fund for the first time in the XRP to fund developers interested in designing products and services based on XRP Ledger.
Ripple will fund those interested in developing on XRP Ledger a record of financial transactions that cannot be changed, only appended with new transactions.
The information was revealed by a representative of RippleX, address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. attached toRipple, which will be directly responsible for granting this funding. Among the plans would be to distribute the totality of the tokens over a period of 10 to 20 years, and at the current price, those 1,000 million XRP would be equivalent to an estimated USD $794 million.
Los proyectos que podrán recibir financiamiento por parte de Ripple serán aquellos orientado hacia el ecosistema de los pagos digitales, siempre que estos sean de código abierto en XRP Ledger, contribute support for XRP and the network a network refers to all nodes in the operation of a blockchain at any given moment in time. or join other currently active initiatives. Those interested in participating will have until March 28th to submit their initiatives.
This new fund follows in the footsteps of the XRPL Grants, which was launched in June last year. With respect to the latter, there have already been two rounds for the selection of projects, and one of them obtained funding of USD $100,000. At the moment, it is not clear if the funding programs for this new program is part of the previously mentioned, but what is clear is that it is part of the plans ofRippleX to attract more users and initiatives to XRP Ledger, as last year it also launched a $250 million creators’ fund aimed at initiatives in the NFT.
Other developments inRipple
As mentioned above, this is one of the directions in which theRipple would be trying to move forward to further promote the adoption of its technology among independent developers. Beyond this, it also highlights the effort it is making to enter into partnerships with other companies, as was recently the case with Tranglo, the Asian financial services entity for certain products to enter that market.
On the other hand,Ripple has also been updating its board of directors by adding people with backgrounds in different sectors. Most recently, Michael Warren, formerMD de Albright Stonebridge Group, became part of its management team to bring more than 20 years of experience in regulatory affairs to the company.
In the meantime,Ripple continues to fight a legal battle in the courts against the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) The company with which it has a legal dispute after allegations of having marketed alleged securities in 2013 for the pre-sale the sale of a cryptocurrency, ahead of it going public, to specific investors. of the token. XRP. So far, everything seems to indicate that the company Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. has the upper hand in the ongoing lawsuit, precisely because it has achieved certain key victories throughout the process.
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Version by Angel Di Matteo / DiarioBitcoin
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