Ripple’s XRP Records More Crypto Transactions Than Ethereum – A Web3 Breakthrough
In a recent interview with Ripple X’s Marcus Infranger at the annual APEX Dev Summit in Amsterdam, it was revealed that the XRP Ledger (XRPL) facilitates over 2.6 billion transactions per day, surpassing the transaction volume of Ethereum.
According to Infranger, the XRPL is a highly efficient and scalable blockchain. The team is currently focused on growth and innovation, with an increase in the number of developers compared to the previous year.
During the APEX Dev Summit, numerous projects were announced to be building on the XRP Ledger. The XRPL’s decentralized exchanges are set to benefit from Ripple’s Automated Market Makers (AMM), which will provide liquidity. The AMM project was initiated by Ripple X engineers and will include several basic features.
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In addition to the AMM project, the XRPL team has other projects in the pipeline that focus on interoperability. This includes a cross-chain bridge proposal and the root network, which aims to build a metaverse-oriented network that integrates with the NFT standard on the XRP Ledger using XRP gas token. These innovative projects contribute to the development of the XRPL infrastructure.
Infranger believes that tokenization will play a significant role in the future of the Web3 world. He highlighted that many of the top 20 global banks have active blockchain strategies, with tokenization being a key area of exploration. He sees tokenization as the gateway to Web3, as it has the potential to eliminate frictions in the traditional financial world, reduce costs, remove the need for third parties, and make transactions faster and more efficient.
To accelerate the development of the XRPL infrastructure, the team has made a one billion XRP fund available to support the grant program and the XRP accelerator program. This investment aims to attract more projects to the XRPL and further enhance its capabilities.
Infranger also discussed the recent launch of Credefi.Finance 2.0, describing it as a Web 2.0 or CeFi (Centralized Finance) solution. Credefi.Finance allows stablecoin holders on the XRPL to lend their assets on a centralized platform with rigorous risk management structures. This initiative aims to provide capital to real-world industries, particularly those in manufacturing, which may face challenges in obtaining capital through traditional banking systems.
As the XRPL continues to grow and innovate, it is becoming a prominent blockchain platform with a high transaction volume. The team’s focus on interoperability and tokenization, as well as the support provided through grant programs, demonstrates their commitment to advancing the XRPL ecosystem.
In conclusion, Ripple’s XRP has surpassed Ethereum in terms of daily transaction volume, with the XRPL facilitating over 2.6 billion transactions per day. The XRPL’s efficiency and scalability, along with ongoing development projects, position it as a key player in the Web3 space. As global banks explore the potential of tokenization, it is clear that this technology will play a crucial role in shaping the future of the financial industry. With support from the XRPL team and the availability of grant programs, the XRPL ecosystem is set to attract more projects and drive further innovation in the blockchain space.
