Ripple’s blockchain investment initiative Xpring that is focused on growing the XRP Ledger and Interledger Protocol ecosystem has invested in XRP Tip bot developer Wietse Wind’s XRPL labs, in order to
“work with developers that share our vision of interoperable blockchains and new use cases for XRP.”
XRP is the third largest digital asset of the cryptocurrency market with a market cap of $12.5 billion. According to the official announcement, Vanessa Pestritto, the director of Xpring shared,
“We are thrilled to announce that Xpring has invested in Wietse Wind’s XRPL Labs. His creative approach, leadership and ability to engage developers were key differentiators in our decision to invest.”
Wietse who is also a leader in the XRP community has reportedly built a technology consulting company that serves clients ranging from larger scale to smaller ones.
“The funding will enable Wietse to dedicate more time and resources to his projects, which he will independently select.”
Wietse took to Twitter to share his excitement as he says,
“this is a dream come true. We can now focus two years on building the best tools we can imagine to support the XRP ledger, the XRPL developer community and consumer / small business use cases.”
He further shared,
“I want to thank @Ripple, the #Xpring team for believing in what we are doing and are going to do, and a special thanks to @nbougalis for introducing me to Vanessa, and @vanessadice: YOU ROCK. Thank you for your efforts, patience and your support!”
XRP enthusiast and a popular community member, Dr. T also applauded Ripple for boosting the community’s efforts as he shared on Twitter,
“Basically, my point is that Ripple is using the huge amount of funds they have to support XRP Community developers. This a great sign, because it means people don't have to keep day jobs and do full-time development, it makes #xrpthestandard and #InternetofValue much faster.”
Moving forward, there are three primary projects that XRPL labs is working on and will soon be released on GitHub,
- The Signing Platform is to interact with the XRP ledger from your smartphone (iOS / Android) that has DEX and MultiSign support. Sign transactions and keep your XRP safe by allowing 3rd party applications to send Sign Requests to your mobile device.
- Decentralized Exchange UI is to view, create, and cancel offers on the XRP ledger Decentralized Exchange. Trade XRP for IOU’s (and the other way around) from your browser.
- Cold Storage OS is 100% Air Gapped. It is to store your key-pairs and secrets, safe and encrypted, and compose and sign transactions offline and submit your transactions air-gapped.
Xpring initiative by Ripple is to invest in and provide grants to projects and company that run by “proven entrepreneurs.” One such project that is reaping the benefit of Xpring is Coil that uses an open API called Web Monetization in order to paysites in real-time.