XRP growth: can Ripple’s collaboration with Ethereum raise the digital asset in value?

Ripple surprised everyone by connecting with Ethereum. Oddly enough, but Ripple is taking concrete steps through its Xpring development and investment division. They are aimed at creating and maintaining the interaction between its own platform and the Ethereum blockchain. An official Xpring blog post explains the idea of ​​this incredible event.

ethereum ripple xrp - XRP growth: can Ripple's collaboration with Ethereum raise the digital asset in value?

Ripple Xpring was the official sponsor of the recently concluded ETH Denver. Ripple Xpring is also one of the largest Ethereum BUIDLAthons in the world (formerly called Hackathon). Therefore, it is not surprising to see Xpring as part of this event.

Left by Ripple senior product manager Warren Paul Anderson, a blog post explains the Xpring solution. He answered the most frequently asked question about the event:

What does Ripple do with Ethereum?

Anderson replied that by default, Xpring is focused on open source software and protocols, and most of its engineers work in that direction. Ripple’s CEO also talked about other open source projects that Xpring is working on. Includes a bridge between C ++ and XRP Ledger, as well as Java and the Interledger protocol.

He also mentioned the most important point – the need for developers to not be constrained in their creations. According to him, it is here that the possibility of interaction appears, because developers should never focus on their capabilities and should always be able to study all possible solutions to the existing problem.

As part of the Xpring activity, three applicants were sponsored at ETHDenver. They all work on the compatibility core. The main focus is to find a way to combine Ethereum with LR XRP.

When asked why a bridge with XRP is needed, Anderson replied:

“We believe that a bridge between XRP and ETH tokens and ERC-20 is necessary, since XRP is one of the most highly liquid cryptocurrencies in the world. But it does not have a computational level to support complex smart contracts for the growing market for decentralized financing (DeFi) on Ethereum. ”

Ripple CTO David Schwartz also supports this move. According to his tweet, he agreed that interoperability is important. And it’s better to build bridges between the protocols than with the walls.

Although this step deserves attention, it is important to note that this is not an official partnership between Ripple and Ethereum.

Anderson also asks interested developers to join these tasks, as they will work on Gitcoin for about a week.

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