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Ripple intends to create a Crypto Bridge between XRP and Ethereum

ripple - Ripple intends to create a Crypto Bridge between XRP and Ethereum

Over the recent ETH denver, Ripple raised the hypothesis of creating a real bridge with Ethereum, so as to make the two compatible cryptocurrency. In particular, the company seems willing to reward programmers who can take action in this sense on theInterledger Protocol (THE P). This is the protocol that was introduced by Ripple at the end of 2015 and designed with the specific intent of offering companies an easy way to exchange currencies, both fiat and crypto.
In order to achieve this extremely ambitious goal, the investment department of XRP, Xpringtherefore decided to sponsor Gitcoin Virtual Hackathon during the Denver conference, establishing a long series of related activities for developers.

The goals that inspire the Ripple project

In particular, the Californian society was moved by the forecast of one real tide on the virtual coins market. A movement of great intensity that will blow on the sails of all the best projects currently in the field. Including, in fact, Ripple and Ethereum, of which we intend to promote interoperability, considered fundamental for cryptographic technology and blockchain. The bond that would be established in this way would be precious especially for Ripple who, while enjoying a great liquidity, one of the greatest ever, it does not have a calculation layer capable of supporting complex smart contracts for the growing decentralized finance market (DeFi) on Ethereum.

ETH has 70% of the DeFI market

The DeFI market is in great turmoil and has now reached a volume of over one billion US dollars, with growth that seems unstoppable. In this context, Ethereum can boast an absolutely dominant position, holding about 70% of it. A share that gives it a real competitive advantage over the competition. All the thicker projects that arise within Decentralized Finance now see Ethereum in the role of primactor.
It is not surprising, therefore, that Ripple is intent on establishing a real bridge between the two currencies. A much smarter strategy than a direct challenge in which the Californian company would start from a too disadvantageous position.

Xpring and future projects

Xpring, as we have already mentioned, is the branch of Ripple in charge of identifying projects to invest in to make XRP's grip on the crypto sector and within the blockchain even stronger. The search for new use cases is not only conducted with the aim of satisfying investors, but also to maintain your cash flow. This objective has been repeated several times in recent months, not only in words, but also with concrete facts.
The interest in decentralized finance is part of this research. Given the rapid expansion of the sector, which is proposed as an alternative financial system to the traditional ones, FinTech, another name used to indicate the activities of Disruptive Innovation (Disruptive Innovation), he could not stay out of Xpring's range.
Since its inception, the company's investment department has allocated at least half a billion dollars worth of XRP to blockchain companies. With this in mind, he also supported the project Flare network, who is trying to add smart contracts to the XRP network.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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