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XRPL Remains Foremost in Payments With Launch of This Feature in 2012: Details

Mon, 01/02/2023 - 13:32
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Tomiwabold Olajide
XRP Ledger boasts of unique features unlike any digital asset that came before it
XRPL Remains Foremost in Payments With Launch of This Feature in 2012: Details
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According to Ripple CTO David Schwartz, XRP Ledger, or XRPL for short, boasts of unique advancements in payment technology dating back to 2012, before several cryptocurrencies even existed.

XRP Ledger uses a consensus protocol unlike any digital asset that came before it. Payment processing is one of the primary functions of XRP Ledger.

At this point, it bears mentioning that Ripple is a company building payments infrastructure, crypto solutions and software for businesses and institutions.

XRP is the native cryptocurrency of XRP Ledger (XRPL), an open-source, decentralized blockchain technology.

Ripple CTO Reacts to Ethereum's Vitalik Buterin's Misrepresentation of XRP

With the evidence of a GitHub document, Schwartz says XRPL has had a CLOB with cross-currency and cross-asset payments that use multiple paths for liquidity since 2012. A central limit order book (CLOB) is a type of decentralized exchange that does use an order book. It matches all bids and offers according to price and time priority.

Cross-currency payments that exchange tokens, XRP, or both are enabled on XRPL and are fully atomic, meaning that either the payment fully executes or no part of it does.

According to Schwartz, Ripple, the company, has not changed its strategy since it adopted the RippleNet strategy in about 2014. Ripple describes itself fundamentally as a payments company, though its resources have somewhat increased.

In the ongoing Ripple lawsuit, CryptoLaw founder John Deaton opines that both a decision and a settlement might be possible in the case.

According to a poll conducted by Deaton, 59% of respondents believed that the case would be settled. The CryptoLaw founder sees a scenario whereby the judge renders a decision and then Ripple and the SEC agree to settle with or without appeals.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.