Ripple’s CTO David Schwartz recently excited users with the Ripple blockchain news. As per the announcement, Ripple is adding a new feature on XRP Ledger that lets users mint stablecoins on the XRP Ledger.
CTO of Ripple hints that the company was supposedly focusing on this feature since its inception in 2012. Besides working on the “core consensus improvementsâ€, the Ripple CTO holds a strong criticizing statement towards Proof-of-Work. Schwartz earlier told that the ‘Proof-of-Work is a technological dead-end’ but the interesting point here is that he does hold Bitcoin, the #1 cryptocurrency.
Stablecoin on XRP Ledger
As the firm adds a new feature, they are expecting that it may bring a few more users to the platform. More so, it is considered that this will open the gates for the external agents to launch their cryptocurrencies on the XRP ledger. However, a detailed understanding of the feature is yet to be announced but a Stablecoin is a start for the third party cryptocurrencies.
Schwartz was confident at the time of the announcement that this feature will invite new companies from other countries as well. When asked the reason, he said that the liquidity is assured with Ripple’s ledger mechanics which is not so in other cryptocurrency platforms.
Additionally, Schwartz informed that they have spent massively in transmission networks like MoneyGram in order to boost the trend they are going to set with adding the Stablecoins on the XRP ledger.
So far, Ripple has made its name to the top bulletins when it comes to collaboration and partnership with payment firms. Noticeably, Ripple has invested $11 million in its partnership with MoneyGram. In a nutshell, the native token XRP is trading at just $0.23 against USD. At the time of reporting this, XRP is currently surging by 1.23 percent within the past 24Hrs, holding the market capitalization of $10,302,244,692.