XRP Has A Bright Future, Here's What Ripple's CTO Says

XRP crypto assets. (Photo; Doc. Cryptocoinspy)

JAKARTA - In his important speech at the Apex event in Amsterdam, David Schwartz, CTO of Ripple, provided an overview of the future of Ripple and XRP. Schwartz clearly differentiated the foundation of XRP from Bitcoin and announced Ripple's new achievements after their victory in the legal battle against the SEC.

Schwartz proudly announced that after clearing legal hurdles with the US regulator, the US Securities and Exchange Commission (SEC). XRP is now the only cryptocurrency besides Bitcoin that has clear regulations in the United States. This provides a strong foundation for Ripple to shape the digital financial landscape within the XRP Ledger.

One of the major announcements was the introduction of Automated Market Makers (AMM) to the XRP Ledger. AMMs, due to their design, provide liquidity and manage trading strategies smoothly, in contrast to traditional exchanges with their order books. AMM aims to increase trading efficiency, capture smaller price movements, and provide benefits to liquidity providers and users.

Schwartz also revealed the integration of a Decentralized Identity (DID) solution into the XRP Ledger. DID allows users to manage their identities securely and more privately on the blockchain while keeping personal information outside the network. This integration is in line with digital identity which has become increasingly trendy recently. Digital identity is aimed at increasing trust and security in the Ripple ecosystem.

Schwartz highlighted ongoing efforts to improve the performance, scalability and stability of XRP Ledger. This includes reducing memory consumption, optimizing transactions, and improving network efficiency. By keeping fees low and continuously improving its technology, Ripple becomes a healthy, decentralized ecosystem.

Schwartz also emphasized the importance of using plugins, an important change that makes it easier to add new features to the XRP Ledger. This allows developers to work in multiple programming languages ​​and simplifies development, encouraging innovation. This change is also expected to simplify the development of sidechains and interoperable solutions.

The keynote also mentioned interesting developments such as the EVM (Ethereuem Virtual Machine) sidechain and Hooks. This is a bespoke smart-contract solution to enhance the capabilities of the XRP Ledger, making it more flexible and adaptable to a wide range of uses.

David Schwartz's keynote speech at the Apex event affirmed Ripple's commitment to innovation and improvement in the crypto space. With ongoing developments, Ripple remains a major player in the future of global finance, especially in the field of payments between countries or what is usually called cross border payments.