XRP Ledger To Enter $10 Billion Market
Ripple and XRP have been making headlines a lot lately, and Ripple has been making great efforts to boost the whole XRP ecosystem.
The San Francisco-based firm is also working hard to push the mainstream adoption of the digital asset XRP.
XRP Ledger to enter a massive market
Now, it’s been revealed that a senior executive at the crypto startup and Ripple partner Flare said that the XRP Ledger is poised to enter in a new realm with the launch of smart contract integration.
During a new TokyoCrypto interview, Flare’s head of business development Mohamed Taysir said that the firm is making great efforts to bridge smart contracts and XRP, and this will open the door to a multi-billion-dollar market.
“Why that is very exciting is because it opens up a lot of possibilities to a big, big market that is just sitting there with a huge market value of $10 billion today,” he said.
Adding smart contracts functionality to XRP
He also explained what makes Flare unique and talked about how it adds smart contracts functionality to XRP.
“Flare is a new network. So we’re the first Turing complete FBA (Federated Byzantine Agreement) network, and we’re using the Ethereum virtual machine for our smart-contracts…” he said.
He continued and explained: “We added the Ethereum virtual machine so that we can bring in at launch one of the protocols that we’ve been working on is the FXRP or the Flare XRP, basically. It’s a trustless representation of XRP on the Flare network so that it can utilize smart contracts. In short, we’re basically adding smart contract functionality that can run with XRP.”
Taysir also talked about how gamers will eventually rely on blockchain and non-fungible tokens (NFTs).
We recommend that you check out the Twitch video in order to learn more details.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.