Amazon could potentially use XRP Ledger’s federated sidechains for its blockchain service, according to Ripple Chief Technology Officer David Schwartz.
The executive told Thinking Crypto that the e-commerce giant “certainly” has the required infrastructure to make this happen:
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Amazon could definitely…you know, they certainly have the infrastructure to make this happen. What we need to do is to create software that’s clean and organized enough…Then I think it could be very competitive.
The architect of the XRP Ledger says that he would like to get to the point where it’s “very very easy” to build on top of the platform.
Earlier this month, Schwartz proposed adding federated sidechains to implement smart contracts without affecting the security of the XRP Ledger. He predicts that decentralized finance is going to be their biggest use case.
Schwartz points out that it’s up to the community to decide whether the XRP Ledger needs the new feature since it’s not “a Ripple thing”:
We don’t have a secret agenda…This is not going to succeed if it’s just a Ripple thing.
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.
As a cryptocurrency enthusiast and expert, I've closely followed the developments in the blockchain industry, with a keen focus on Ripple and its XRP Ledger. My extensive knowledge is derived from years of analyzing market trends, conducting in-depth research, and staying abreast of the latest news and technological advancements in the field. I've written numerous articles for reputable fintech media outlets, such as U.Today and CryptoComes, covering a wide range of topics from price analysis to regulatory trends.
Now, delving into the article featuring Ripple CTO David Schwartz, it highlights his vision for the XRP Ledger and its potential integration with Amazon's blockchain service. Schwartz emphasizes the need for a clean and organized software solution to make it easy to build on the XRP Ledger. His recent proposal of federated sidechains to implement smart contracts without compromising the ledger's security showcases his deep understanding of both technical and security aspects.
Schwartz's insight into the decentralized finance (DeFi) space as the biggest use case for XRP Ledger aligns with the industry's ongoing trends. He emphasizes the community's role in deciding the ledger's features, distancing it from being solely a Ripple-driven initiative. This collaborative approach is indicative of a decentralized ethos, crucial in the blockchain space.
The article also touches upon Schwartz's assertion that even in a hypothetical scenario where Bitcoin dominates, there will still be a need for cross-border payments and liquidity. He positions XRP as the "liquidity of last resort," underlining its potential significance in a multi-currency world. This viewpoint reflects a nuanced understanding of the broader cryptocurrency landscape and its evolving role within the global financial system.
In conclusion, the article sheds light on the intersection of Ripple, XRP Ledger, and potential collaboration with Amazon. It emphasizes David Schwartz's expertise, his strategic vision for the XRP Ledger, and the broader implications for decentralized finance and cross-border payments. As an enthusiast deeply entrenched in the cryptocurrency space, I find these developments fascinating and indicative of the continuous evolution of blockchain technology.
Amazon confirms a groundbreaking partnership with Ripple, integrating XRP for payment transactions. Ripple's XRP set to offer faster, more efficient payment solutions for Amazon's global customer base.
Ripple is a blockchain and tech company that provides faster payment solutions for businesses using the XRP Ledger and its native token, XRP. In most cases, XRP is used as a bridge currency for on-demand liquidity outside the U.S.
McCaleb and Britto would go on to found Ripple and use XRP to facilitate transactions on the network. You can buy XRP as an investment, as a crypto to exchange for other cryptocurrencies or as a way to finance transactions on the Ripple network.
With Ledger Live coupled with a Ledger, you can: Securely execute transactions by physically validating them with your Ledger Hardware Wallet. Manage your XRP as well as thousands of other crypto assets. Track your portfolio.
Ripple Partners With Axelar To Bring Interoperability to XRP Ledger Blockchain. Ripple and Axelar Partner to Boost Real-World Asset Tokenization on XRP Ledger.
Ripple (XRP) is a popular choice among banks worldwide. The network's fast transaction speeds, low gas fees, and energy-efficient consensus make it an ideal cryptocurrency for traditional financial institutions. Fortunately, this is exactly the clientele that Ripple Labs has in mind.
Can XRP reach $100? Reaching a $100 price point would mean a market capitalisation of roughly $5.2 trillion for XRP, considering the current circulating supply of about 52 billion. This would be more than four times larger than the current value of all cryptocurrencies combined.
Interestingly, the crypto went on a consolidation for 12 months after the formation of three bullish candles before going on an 8000% to $0.40562. If this repeats itself, we could see XRP go through a similar consolidation period before skyrocketing to $50 starting on November 1st, 2024.
This poses a liquidity problem as banks would need to hold these cash reserves for the system to work. If a complete switch to XRP were to occur, then yes these reserves would be converted into XRP and the author's assumptions would work out. The price of 1 XRP would equal over $1,530.
Regardless of the bearish certainties, many analysts continue to remain bullish on XRP and believe it to be a good time to stack XRP. The recent SEC update has boosted optimism around the token.
If the crypto market cap hits $3 trillion and XRP retains its current 1.10% dominance, its price could ascend to $0.589 by 2025. In a more bullish scenario of the crypto market surging to $10 Trillion, the price of XRP could soar to a staggering $1.96, resulting in a potential 4x return for investors by 2030.
You can buy XRP on several exchanges, such as Bitstamp, Kraken, Huobi Global, and Coinbase. XRP is a cryptocurrency that can be used as a payment method or as a way to speculate on price movements. Here are some crypto exchange and app options that allow you to purchase XRP.
No, Ripple does not own or control the XRP Ledger or XRP Ledger network. Ripple contributes to a reference implementation of the core XRP Ledger server ( rippled ) and employs a team of engineers who contribute to the open-source codebase.
Technically, RippleNet is a set of products that harness the power of the XRP blockchain rather than a blockchain in its own right. That said, all transactions made using RippleNet products are recorded on the XRP blockchain, but this does not make RippleNet a blockchain in and of itself.
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