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Ripple’s Dev Platform Plans to Work with Ethereum (ETH): Reasons

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Fri, 02/21/2020 - 08:49
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  • Ripple’s investment arm and an open platform for devs, Xpring, has sponsored the Ethereum hackathon ETH Denver to build a bridge between XRPL and Ethereum, here’s why

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Contents

Last weekend, Ripple’s investment arm and platform for software devs that allows them to work with crypto payments, acted as a sponsor of the ETH Denver hackathon – one of the largest ETH conferences and hackathons in the US.

Foreseeing questions as to why, Warren Paul Anderson from Ripple and Xpring has published a blog post to explain why it was necessary and what stands behind this sponsorship.

"What is Ripple doing at an Ethereum thing? - Fair question. Glad you asked :)”

Building bridges between XRPL and ETH

The blog post reminds the community that Xpring is an open platform by default and what it does is create everything open – software, standards, protocols, etc. The team also love to cooperate with those who share the same or similar values.

As per the post, over 40 IT engineers of Xpring dedicate their time to building open-source software.

Xpring also believes interoperability is vital for the development of the future blockchain world and for the mainstream adoption of DLT and crypto. They also state that developers should be free in their choice of tools they use to work on their projects.

Anderson reminds the readers that recently Ethereum set an ambitious goal of increasing its community to 1 mln devs across the world. Xpring believes that this amount of software devs must work not only on Ethereum but across all blockchain platforms.

Interoperability is crucial here, Anderson writes, so that developers can put their efforts together, as well as resources, and build on blockchain together easily at high speed.

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XRP to ETH bridge

Finally, Anderson mentions that it is important for Ripple to construct a bridge between XRP and ETH, as well as between all ERC20-based coins – Ripple wants to have a compute layer for supporting smart contracts for Ethereum-based DeFi.

XRP community seconds it

Ripple’s CTO David Schwartz has retweeted the blog post, adding that bridges are much better than walls.

Startup investor and XRP fan Eric Dadoun calls a crypto maximalist anyone who does not share Xpring’s view on the matter of blockchain interoperability.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

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Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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