- The latest report establishes that XRPL, Xahau, and Flare could be partnering for a decentralized bridge following years of deliberations.
- Axelar’s co-founder has also reported that $134 billion of XRP would soon be able to get yield everywhere through Axelar.
According to the latest report, XRP Ledger (XRPL), Xahau, and Flare could be in line for a decentralized bridging. As hinted by Axelar’s co-founder Georgios Vlachos, this collaboration could improve the ability to reach out and speak to founders and important figures in the industry with just a message.
Earlier, the Flare Network’s co-founder Hugo Philion disclosed that the collaboration would enable $134 billion of XRP to get yield on Flare through the native XRP staking and FXRP. Later, Axelar’s co-founder also announced that the $134 billion of XRP would soon be able to get yield everywhere via Axelar. Meanwhile, he hinted that the team is in active communication with chains that are interested in onboarding the XRP army.
Source: Hugo Philion
This collaboration has attracted reactions across the industry as key players laud this groundbreaking move. For crypto enthusiast Max Avery, this is “fantastic” news as the XRP community keeps expanding.
Exciting times ahead! It’s fantastic to see the $XRP community expanding and getting more growth opportunities. Keep up the great work.
XRP Ledger (XRPL) Criticized for Centralization
Amidst the recent expansion announcements and rising activities, XRPL and XRP recently came under criticism as Pierre Rochard, Vice President of Research at Riot Platform, claimed Ripple has the power to tweak the codes of the platform to unlock escrow and flood the market with XRP, raising questions about its level of decentralization.
The biggest obstacle for the Strategic Bitcoin Reserve is not the Fed, Treasury, banks, or Elizabeth Warren. It’s Ripple/XRP. They are aggressively lobbying against the SBR by throwing around millions of dollars at politicians, desperately trying to derail it. They did the same to attack Bitcoin mining under the Biden administration. Obviously, they want to protect their marketing narratives and push for CBDCs built on their platform.
In a previous update, we also discussed the post of a researcher, Dark Horse, calling out Ripple executives for relying on their personal interests and centralized exchanges rather than the advancement of the ecosystem.
Ripple Response
In response, Ripple Chief Technology Officer (CTO) David Schwartz explained that XRPL uses a consensus algorithm that is different from the Proof-of-Work of Bitcoin. Additionally, validators on XRPL receive no payment. To him, this significantly reduces the possibilities of fraud and manipulations.
According to Schwartz, any changes to the platform, including fork and supply adjustment, need consensus from the validators. Meanwhile, Ripple boss Brad Garlinghouse earlier responded that the effort of Ripple aligns with the decision to advance the Bitcoin reserve establishment.
XRPL was also reported to have recently embarked on crucial upgrades, with eight significant amendments lined up for voting. As mentioned in our previous news brief, the amendments included XLS-70 Credentials, XLS-37 AMM Clawback, XLS-33 Multi-Purpose Tokens, XLS-52 NFTokenMintOffer, fixInnerObjTemplate2, etc.
At press time, XRP was trading at $2.4 after declining by 1.77% in the last 24 hours. According to our recent analysis, whales have staged a massive comeback into the market as they aggressively purchase the dip. As indicated, more than $520 million worth of XRP has been accumulated recently.
