Ripple and XRP have been making headlines lately due to all kinds of successful accomplishments.
Now, the spotlight is on XRP once again as the digital asset broke $1.50 and entered the world of DeFi, thanks to the latest collab.
XRP engages in the DeFi world
Just the other day, it was revealed that the Wanchain team announced that now “XRP token holders can put their XRP to work and engage with the world’s many DeFi applications.”
Wanchain is a blockchain interoperability platform. Since “Wan” means “ten thousand” in Chinese, the brand name “Wanchain” translates to “ten thousand blockchains”.
As the online publication CryptoGlobe notes, this makes sense when you consider that the goal of Wanchain is to connect “the world’s many isolated blockchains.”
Check out a brief description of Wanchain:
“Wanchain is a public blockchain with support for the development of smart contracts using Solidity. Wanchain supports ring signature-based private transactions and decentralized cross-chain functionality. Wanchain’s Storeman node system uniquely combines secure multiparty computation, atomic swaps, threshold secret sharing, and decentralized account management to implement a decentralized cross-chain solution,’ according to official notes.
Via the cross-chain features, any blockchain’s assets can be connected and circulate on Wanchain.
Temujin Louie, Directory of Marketing at Wanchain, stated the following in a blog post.
“Cross-chain bridges connecting XRP Ledger, Wanchain and Ethereum are live and operational on each network’s mainnet.”
Join me tomorrow for a live chat and demo with VP of Engineering Dr. Weijia Zhang and CEO Jack Lu from @wanchain_org on the RippleX Developer Twitch stream.
See you there! https://t.co/FM4eSFgL2Y
— Matt Hamilton (@HammerToe) April 12, 2021
In other words, XRP holders can now “securely use their XRP to farm, mine and provide liquidity rather than simply leaving their tokens, inactive, in wallets and exchanges.”
At the moment of writing this article, XRP is trading in the green, and the coin is priced at $1.64.