Vanessa Pestritto, the director of Xpring at Ripple has announced via a blog post on Medium that Xpring will be investing in well-known entrepreneur Wietse Wind’s creation, the famed XRP Tip Bot and XRPL Labs.
This is huge news for Wietse Wind as well as the XRP community since it is the first time Ripple has directly invested in a person owing to his skills and contribution to the XRP community. Vanessa Pestritto in the blog stated,
“At Xpring, we are focused on growing the ecosystems around the Interledger Protocol and XRP Ledger. To do so, we need to work with developers that share our vision of inter-operable blockchains and new use cases for XRP. One of those developers is Wietse Wind. “
XRP Tip Bot took the XRP community by storm due to its innovative design, ease of use by everyday users and more importantly, its integration on already existing platforms like Twitter and Reddit. Since then, Wind has dedicated his time and resources to developing more tools on the XRP Ledger and has made sure to bring the use-cases right in the hands of the users.
Furthermore, the blog stated:
“He has built a technology consulting company, which serves numerous clients ranging from large scale companies to smaller offices. He’s also built and ran a software company that provided a platform as a service for rapid web development. We are thrilled to announce that Xpring has invested in Wietse Wind’s XRPL Labs.”
Wietse Wind recently announced the start of his software company, XRPL Labs which focuses on developing consumer-oriented tools that are currently unavailable to the XRP Ledger.
Wietse Wind was applauded by members of the Ripple community, like Dilip Rao, Emi Yoshikawa, and many others. Emi Yoshikawa, the Senior Director, Joint Venture Partnership, Global Operations at Ripple welcomed the announcement and said that the XRPL is an excellent and passionate team, and he looked forward to their ideas.
Wietse Wind expressed his happiness on Twitter and tweeted,
“I cannot describe what I feel right now, but I’ll try … Starting today @baltazar223, @ThisIsTRISS and I will be officially working full time on building a few killer XRPL apps… Thanks to Xpring funding”
Subscribe to AMBCrypto’s Newsletter
Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability
Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.
Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.
It also stated:
“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”
The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.
This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.
A Twitter user @XRPCentre tweeted:
“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”
Subscribe to AMBCrypto’s Newsletter
Ethereum [ETH] might have caught a break from bears due to formation of ‘Golden Cross’
Bitcoin [BTC]: experts expect 20% of exchanges to be compromised to a hack by 2020, says report
Bitcoin [BTC] accumulation phase has officially started, suggests report by Adamant Capital
Bitcoin [BTC]: Financial Crime Enforcement Network raises penalty on trader for violating banking norms
Ethereum’s Vitalik Buterin could have been ‘Non-giver of XRP’ in an alternate universe
Bitcoin SV [BSV]: John McAfee ‘sues Calvin Ayre in four different countries’; vows to bankrupt him
Cardano [ADA]: Proof of Stake [PoS] throws away expensive process & advances the network, says Charles Hoskinson
Cardano [ADA]: We will emerge from 2019 more decentralized than any other network, says Charles Hoskinson
XRP takes another step into mainstream adoption as Skype hints a possible integration
KRONN [KREX] vs. Ripple [XRP]-Which Cryptocurrency is Better?
Is John McAfee among crypto adherents who knows Satoshi’s true identity?
Ethereum [ETH] and Tron [TRX] Price Analysis: Bear’s looming presence drags down a leading coin
Bitcoin [BTC]: Officials crack down on massive BTC fraud in ‘largest pill seizure in the history of New Jersey’
Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC relishes bull’s company, while bear takes over LTC’s market