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XRP To Benefit From Coreum Smart Contract Capabilities, Says Sologenic Co-Founder

Coreum blockchain mainnet launch is scheduled for March 24, 2023, at 4:00 UTC. The platform is built to provide developers with an essential infrastructure to develop decentralized applications, from asset tokenizations, banking, and remittances to DeFi, metaverse, and gaming.

To commemorate the launch of this third-generation Layer-1 smart contract-enabled blockchain platform which is designed to be fast and interoperable, the team has decided to unlock and conduct 25 million xCORE airdrops to all XRP holders at the time of the snapshot. 

XRP and the XRP Ledger ecosystem stand to benefit more from the Coreum smart contract capabilities as confirmed by Sologenic co-founder Bob Ras on Wednesday. But first, the interoperability between the XRP Ledger and Coreum blockchain must be enabled, he said. 

“It’s notable to mention that the XRPL-Coreum interoperability enables XRP, SOLO, and eventually, other XRPL tokens to access the Coreum blockchain, unlocking the limitless potential for innovative use-cases by utilizing Coreum’s Smart Token technology,” Bob Ras wrote

More so, the Sologenic co-founder added that the XRPL-Coreum bridge will be launched on Sologenic DEX on March 24 alongside the mainnet release of the Coreum blockchain. This would enable seamless token migration across both blockchain networks, Ras stated

It is also said that this interoperability would allow all XRPL-based assets to create more use cases using Coreum’s Smart Tokens technology. This novel technology enables the issuance of tokens wrapped in smart contracts to allow these tokens to execute programmable actions independently. 

Ultimately, the XRPL-Coreum bridge will unlock many new opportunities for XRP, such as DeFi and innovative smart contracts-based decentralized applications.

Notably, the recent disclosure from the Sologenic co-founder confirms an earlier disclosure by the Sologenic Development Foundation where the team noted that the first asset other than Inter Blockchain Chain-based assets that will be bridged to the Coreum Blockchain would be XRP and other tokenized assets on the XRPL.

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It bears noting that the development of Coreum began on the XRP Ledger. Although the XRPL inspired many aspects of the new layer-1 blockchain with Smart Token technology, Coreum became an independent network due to the lack of certain functionalities on the XRP Ledger.


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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.
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