This episode of the Ripple Drop covers changes to the XRP Ledger, a digital wallet app called BRD and the foundation for liquidity.
David Schwartz, CTO of Ripple, gives an overview of how improvements are being made to the XRP ledger. Breanne Madigan, VP of Ripple and Head of Global Institutional Markets, then explains the key characteristics of a healthy liquid market, while BRD Co-Founder and President Aaron Voisine explains how and why his company is part of this effort.
Reliability is job one
Schwartz admitted that he’s often impressed with how quickly and dramatically the XRP ledger has changed since its inception in 2011 – and grown to over a thousand nodes, bringing billions of dollars in people around the world.
However, the defining characteristic of being decentralized with no administrative functions or approval for a billion dollar digital asset is precisely why the pace of change has slowed. Reliability is a top priority and the community ensures this by taking a suggested approach to any proposed change.
As part of this episode, Schwartz highlights how the community is empowered to push back potential changes and unpacks a unique security feature that prevents the system from ever agreeing that “two plus two equals five”.
He’s also teasing a few changes the community is considering including speeding up confirmation times and increasing throughput. Additionally, he’s interested in Ripple’s potential takeover of stable coins that would tie assets in the ledger to an external value.
Liquidity bases and current use cases
Having a reliable and trustworthy infrastructure is critical to supporting new use cases for digital assets. One such company working on creating tangible value for digital assets is Germany.
BRD is a crypto app for multiple currencies that is designed to make trading digital assets in 170 countries as easy, secure and convenient as possible. Voisine highlights the increased utility and demand for XRP as reasons BRD added XRP support.
“We see companies constantly adopting and growing (leveraging) digital assets. (XRP) has proven extremely valuable and something the market wants,” said Voisine.
Madigan also explains key aspects of liquidity and how liquidity fits into RippleNet’s On-Demand Liquidity Service (ODL), which enables faster, cheaper cross-border payments. Madigan explains how ODL is a key example of how Ripple as a company develops solutions for B2B customers and still has the potential to add value to everyday consumers. All of this has been made possible in a ledger that the community ensures is up to the task.
Make sure to check out more Ripple Drop episodes on YouTube, as well as the latest news from Ripple.