Ripple’s Xpring Launches Developer Platform to Streamline Transactions

Bhupinder Kour July 16, 2020
Ripple’s Xpring Launches Developer Platform to Streamline Transactions

With Blockchain emerging out of the shell, both startups and established brands have started embracing the technology. 

While some have begun exploring new dimensions of the technology to introduce it into their traditional processes, others have stepped into the development arena. They have started building platforms with ready-made blockchain frameworks to make it easier for others to enter the domain and enjoy better services. 

One such company that is time and again found itself being in the headlines for making significant transformations in the Blockchain and cryptocurrency space is Ripple. 

The US-based technology company has recently added a new dimension to its Xpring platform; making it easier to send and receive payments in any currency form and across any network. This platform, unlike RippleNet that focuses only on Financial domain, will be a global product. Meaning, developers will be able to employ the tools, services, and programs offered by this platform to build on the XRP Ledger and leverage the potential of Interledger Protocol.

This move, which has come into the limelight just a year after the creation of Ripple’s Xpring, is said to give businesspeople and users an escape from tiresome and slow traditional transaction process. 

The platform, unlike the traditional payment process, will be fast, reliable, and convenient. It will provide an opportunity to let billions of users across the globe make a transaction instantly, and this way, boost financial inclusion for unbanked users. It is also expected to encourage developers to contribute to the Ripple environment – one that has found a place in the list of cryptocurrency trends.

And the best part is that the potential of this platform will not be confined to those who have entered into the Blockchain and Cryptocurrency space. It will be available to all the 23M developers around the world; giving them an opportunity to integrate fiat and cryptocurrencies to any third-party app. That too by writing less lines of codes to enjoy the same functionality than before. Something that will improve the lives and processes of both consumers and Blockchain development companies.

“We want Xpring Platform to bring money to the Internet at the same core level as text, images, and videos [do] today”, said Ethan Beard, Xpring’s Senior Vice President.

With the same motive of removing barriers for developers to adopt the technology, the company has partnered with and invested in nearly 20 firms, and have committed around $500M to the ecosystem. It has also announced that they will be a part of BitPay, mobile wallet BRD, and Anchorage, a digital custody provider.  Also, it unveiled that Chainalysis is introduced XRP ledger to their blockchain analytics product. All the efforts that Ripple has been making gives an impression that their platform will reach a wider audience soon and make significant changes in the whole transaction world.

THE AUTHOR
Bhupinder Kour
Content Writer
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