Just the other day, The WTO (World Trade Organization) named Ripple as one company that could revolutionize international trade, and the current developments seem to go in line with that prominent assessment. Some people even Ripple as the Microsoft of cryptos. When xRapid went live, it created some ripples in the market, but it’s XPring that might as well bring the tide.
Is XRP Really Decentralized?
Of late, there have been some arguments from some quarters within the crypto community that XRP isn’t entirely decentralized due to its ties to Ripple, the company, and its efforts in creating in-roads in the banking sector. Currently, various major banks and corporate institutions across the world are using Ripple’s RippleNet, a blockchain-based network that allows banks to send money across borders faster and more securely using XRP as the base currency. Such use of a cryptocurrency by traditional banks is one of the reasons that critics argue that XRP isn’t purely decentralized.
However, the company has been making huge steps to dispel these reservations and paint the crypto in a better light. For starters, Ripple has made it clear that XRP (the cryptocurrency) and Ripple (the company) are two completely different entities and that Ripple has no control over XRP. This claim sits well with Ripple’s argument that XRP is an entirely decentralized cryptocurrency just like others like Bitcoin. After all, that’s what Satoshi Nakamoto envisioned when he created the first crypto network (Bitcoin).
The launching of XPring back in may aims to support XRP as a decentralized cryptocurrency and root for its mass adoption. Basically, XPring is a project that supports innovative blockchain-based initiatives that factor XRP on various use cases. Although the introduction of xRapid and xCurrent has boosted the adoption of XRP by banks and other financial institutions, XPring is bound to charge up the playground by actively campaigning for the cryptos mass adoption.
XPring is already making waves, with various products already in the market. These include Coil, XRP Tip Bot, SB Projects, Omni, and Blockchain Capital. These products are aimed at helping people in various economic sectors in monetizing their hustle. For example, Coil allows internet users to donate XRP to support content creators of their choice. SB Projects helps artists in monetizing their content. XRP Tip Bot also allows people to tip video and content creators on social media. To better drive the narrative that XRP is a decentralized crypto, Ripple has sought to let most of these services operate on their own.
With almost 100 such innovative products in the works, it’s pretty clear that the XPring project could be the push that RXP needed to make the next jump. In fact, this project could fuel XRP’s mass adoption in ways never imagined before. That would result in increased XRP popularity and a firmer market standing. Could an XRP bull run be brewing?