The XRP Ledger Foundation, a non-profit organization that is meant to support the development of the XRP Ledger, announced its launch on Sept. 24.
It has received grants from blockchain payments giant Ripple, content monetization platform Coil, and UK-based cryptocurrency wallet service Gatehub.
The foundation expects to get additional financial support from other projects within the growing financial ecosystem.
The main goals and plans
In its press release, the non-profit outlines the main points of the initial roadmap that will include enhancing the tech behind XRPL, creating a unique node list, supporting the ecosystem of developers, and encouraging community-driven initiatives.
Their key focus will be seeking funding for core software developers and bordering the social impact of their products.
Wietse Wind, one of the most prolific XRP developer who’s now sitting on the fund’s board, claims that they might have paid developers who would exclusively work on XRPL:
“That does not seem far fetched at all. At some point.”
It will also create an XRP Community Fund whose purpose greater formal engagement:
“This fund will focus on events, developer interactions and other activities that foster adoption of the XRP Ledger.”
The fund will engage in research with members of academia that are part of the University Blockchain Research (UBR) that was launched by Ripple back in June 2018.
Ripple’s is “committed” to XRPL’s growth
The announcement was met with a lot of excitement within the XRP community. Ripple CTO David Schwarz tweeted that the San Francisco-based decacorn is “looking forward” to building together with the XRP Ledger Foundation.
In his statement, Schwarz claims that Ripple is committed to supporting the growth of the XRPL that will now be spearheaded by the foundation:
“We and the community have worked over the past 8 years to dramatically increase the decentralization, performance and feature set of the XRP Ledger and remain committed to its future growth and innovation led by the Foundation.”