Advertisement
AD

Main navigation

Advertisement

XRPL Top Use Cases in 2023 Indicated by Community

Advertisement
Wed, 4/01/2023 - 15:50
A
A
A
XRPL Top Use Cases in 2023 Indicated by Community
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Advertisement

A community-managed account for Ripple, XRP token and XRP Ledger blockchain, dubbed @WKahneman, recalls the core elements of RippleNet multi-purpose platform and their main use cases.

From xCurrent, xRapid and xVia to RippleNet: Long story short

The anonymous XRP enthusiast who goes by @WKahneman on Twitter shared a thread designed to explain the design of Ripple's XRP-based solutions for newcomers to its ecosystem.

He recalled that some years ago, Ripple offered three solutions for businesses and individuals focused on seamless cross-border value transfers.

Advertisement

The first one, xCurrent, facilitated messaging in payment channels. xRapid instrument leveraged XRP as a bridge currency for seamless payments. xVia in this stack served as an API solution suitable for being integrated into various business designs.

In 2023, all of these functions are integrated into a single ecosystem, RippleNet. RippleNet, in turn, leverages XRP as a currency for On-Demand Liquidity (ODL) payment corridors in various regions of the globe. RippleNet removes the need for bilateral agreements between the parties.

ODL solutions expanded to new regions in 2022

As such, direct usage of XRP is not necessary any longer; clients use RippleNet without swapping their funds to XRP themselves.

Last year was a crucial period for Ripple and its XRPL solutions, including ODL. In its detailed report shared in Q4, 2022, the Ripple team highlighted that expansion to Africa, Argentina, Belgium, Israel, Australia, Brazil, Singapore, the UAE and the U.K. is the company's top priority.

Related

In 2023, Ripple's payments solutions are used not only for cross-border transfers but also for payments of crypto friendly SMEs and e-commerce platforms.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailboxSubscribe
TopCryptoNewsinYourMailboxSubscribe
Advertisement
Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD