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Ripple’s xCurrent is kind of SWIFT 2.0, says CEO Brad Garlinghouse

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Ripple's xCurrent is kind of SWIFT 2.0; says CEO Brad Garlinghouse
Source: Pixabay

Ripple’s three unique software products, xCurrent, xRapid and RippleNet have propelled significant adoption as well price rise for its native crypto-asset, XRP. The US-based technology firm aims to provide its users with “crypto-banking experience” with the aforementioned products.

In a recent panel discussion, at the Swiss National Bank Conference, Brad Garlinghouse, the CEO of the fintech company, mentioned the products use cases of its trio. Garlinghouse said that among Ripple’s three vital products, xCurrent, the enterprise software solution, “does not touch crypto” and asserted,

“.. X current is just you know kind of Swift 2.0”

The CEO also said that xCurrent is a messaging framework that is “much more efficient in real time” as compared to the fiat to fiat payment settlements in the traditional financial entities.

During the session, he also spoke about the liquidity solution provider for banks, xRapid which was introduced in the fourth quarter of 2018. The CEO explained that the product witnessed significant demand from the financial institutions, which sought to open up new corridors of payments but did not want to create any new nostro-vostro relationships.

Going further, Garlinghouse touched on RippleNet, the blockchain-based banking, and payment network and stated,

“.. the third product is simply an API that allows corporates to do real-time payouts into this network that we call RippleNet”

The CEO is of the opinion that by standardizing on an open source API is the key to efficiency in terms of cross-border remittance. He believes that Ripple has been successful in solving specific problems for specific users and boasts over 200 customers globally under the hood.

Its token, XRP was performing significantly well lately. At press time the coin was up by 8.53% over the last 24-hours and was priced at $0.405  with a market cap of $17.08 billion.

According to the CEO, Ripple’s native crypto-asset and open-source technology, XRP was originally developed by engineers who had witnessed some of the major flaws of Bitcoin and the challenge of scalability surrounding it. Garlinghouse had also termed earlier that XRP is a thousand times better than Bitcoin payment settlements.





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

XRP

Ripple’s XRP Ledger Dev Portal unveils updated version of WebSocket API Tool

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Ripple's XRP Ledger Dev Portal unveils updated version of WebSocket API Tool
Source: Pixabay

Ripple XRP Ledger Dev Portal revealed an updated version of the WebSocket API Tool. The latest development in the Ripple ecosystem will enable users to directly communicate with rippled servers, which is responsible for powering the XRP Ledger Network.

An official post detailing the WebSocket update stated that the tool has been incorporated with unique functionalities to the existing tool structure. The “refreshed tool” which was launched as part of the recent site relaunch, allow users to choose which servers to connect, which will include public servers that Ripple operates, XRP Test Net servers or any server that the user locally runs on its computer. This feature is called Server Selector.

The refreshed tool provides options to connect to Ripple’s general-purpose public XRP Ledger servers, full-history public servers, Test Net servers, or to your own server running locally. This list can also change to provide more options in the future.

Another feature incorporated in the latest update is the new Permalink button. The button provides a link wherein users can use to share the current state of their inputs, which includes the request body and the selected server. The official post detailed that the Permalink feature is similar to other web tools such as JSFiddle or CodePen, which “provides a way to prepare a set of inputs and share it with others.”

Another feature is the curl Syntax Button, represented by “>_ ” icon. The button is designed to load a popup with the current inputs of the request box, which is converted into a JSON-RPC call which can be made with the curl utility.

To eliminate simple syntax errors, the upgraded tool has incorporated a feature called Error Highlighting, which as the name suggests, highlights lines with errors by placing red circled X marks.

The Message History Management will display all types of messages in one single stream, which maintains a history of the user’s previous calls until the page is closed or a different server is selected or the history is cleared by selecting the “Clear History” button. The blog further detailed,

“The amount of history the tool keeps at a time isn’t unlimited, which is another change from the previous version. By default, any time the tool receives a new message, it deletes any messages older than the most recent 50, though you can set this to be any amount you like.”





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