Senior Dev And Interledger Protocol Co-Founder Quits Ripple, Will Remain Involved In ILP And Coil

Ripple may be forced to hunt for a new senior software developer after Evan Schwartz tweeted that January 2, 2020 was his last day with the firm. The senior developer has been part of the Ripple team for the past 6.5 years and was among the key resources within this San Francisco based company.

One of the most notable contributions by Schwartz is the Interledger Protocol (ILP). The tech has been an instrumental means to Ripple’s end goal of payment solutions and the Internet of Value vision. This is mainly due to its infrastructure which allows ledger integration based on its open suite protocol.

Ripple has been active in the IoV space and recently acquired Logos, a payment firm at its early stages. The company plans to expand its footprint in IoV through this startup and is optimistic the growth will be tremendous according to its SVP, Monica Long. However, it still uncertain who will be selected to lead the ILP team following the Schwartz exit as it is important in the Internet of Value products.

Schwartz to Maintain Board Position in Coil

Schwartz added that he will remain in the ILP development space through Coil where he is a board member. The platform’s product is a monetization feature that helps content creators earn more value by leveraging blockchain networks. Basically, micropayments are processed for streamed content and paid to the creators who are part of the network. Ripple had earlier on taken part in the Coil seed round where they granted the firm $265 million worth of XRP tokens.

Ripple (XRP) Live Price

1 XRP/USD =$0.2464 change ~ 2.46%

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