Wednesday, June 29, 2022
HomeBlockchainRipple Giving 1 Billion XRP to Developers to Accelerate Creation of New...

Ripple Giving 1 Billion XRP to Developers to Accelerate Creation of New Use Cases on the XRP Ledger

Ripple, the San Francisco-based cross-border payment firm, has announced that it is committing 1 billion XRP worth $800 million at current prices, to accelerate development and new use cases on the XRP Ledger.

According to a blog post, the 1 billion XRP is an extension to Ripple’s XRPL Grants program, which was launched in 2021 and has awarded $6 million in funding so far. The funding was received by over 50 open-source projects built on top of the XRP Ledger.

Read Also: Credible Crypto Issues XRP Price Warning after a Crucial Ruling in Favor of Ripple

The blog post reads in part as follows:

“Getting started on the XRP Ledger (XRPL) should be easy, and scaling a project to real-world implementation shouldn’t be slowed by barriers to entry like capital, experience, and resource dependencies.

“That’s why Ripple is making a 1B XRP commitment to the XRPL Grants program: to provide long-term resources to support global developer projects built on the XRP Ledger, and continued commitment to fostering this community and supporting their work.”

Read Also: Tranglo Announces Activation of Ripple’s ODL that Leverages XRP across All Its Payment Corridors

<

According to the firm, the grant is targeted at providing the opportunity for any developer to join the XRPL community and leverage the features of the carbon-neutral public blockchain, such as speed, cost efficiency, scalability.

Ripple added that superior technical capabilities in combination with expert business support will enable developers to transform their knowledge into a use case or business idea on the XRP Ledger.


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo
Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.
RELATED ARTICLES

Latest News & Articles

Recent Comments