Influential Ripple Developer Steps Down
Ripple and XRP had a great 2019, and the San Francisco-based company managed to gain a lot of recognition during 2019.
The company bagged meaningful partnerships, and more influential names have been praising the firm for its efforts regarding cross-border payments.
Ripple has been indeed making considerable efforts to replace SWIFT and to overcome the flaws that have been plaguing the traditional payments system.
Banks and financial institutions have been using SWIFT for decades, but the system became flawed and outdated, and this is where Ripple stepped in with its products to fix the issues.
Ripple has been boosting the XRP ecosystem as well, and it’s been promoting the adoption of the digital asset.
Ripple developer steps down
It’s been just revealed that an influential Ripple developer decided that it’s time to move on. Evan Schwartz wrapped up his last day at the firm.
It’s been revealed that he helped create the Interledger protocol, which is designed to offer companies an easy way to transfer value between fiat currencies and digital currencies such as XRP.
Even if he took this decision to leave Ripple, he said that he plans to remain an active member of the ILP community in the short term, as reported by the online publication the Daily Hodl.
I'll be taking a step back from active development on https://t.co/eHzAJTRjRj for a while but I'll stay involved with the @Interledger community and the boards of @Coil and the Interledger Foundation.
— Evan Schwartz (@_emschwartz) January 2, 2020
The Ripple and XRP community seemed supportive of his decision.
Someone commented: “That’s exciting, Evan! Well done! Are you able to take a break or are you jumping straight into the next adventure?”
Another follower also said: “Life goes on. That’s natural. All the best for you.
Just tell me one thing before you go: In your opinion when will we see the XRP value increase significantly?”
He did not answer the questions but we recall that Ripple’s Brad Garlinghouse said more than once that price is not that important in the crypto space and there are more essential things to look at such useful use cases and adoption.
Anyway, speaking of prices, XRP is trading in the red today, and at the moment of writing this article, the coin is priced at $0.192905.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.