By Hassan Mehmood (Saudi Arabia)
Ripple has done major changes to its network as the rebranding of its existent products. It is reported that xVia and xCurrent merged into Ripple Net while xRapid rebrands as ‘On demand Liquidity’. They have removed links to these products from the website.
No Official Announcement of such an Important Change
The action has been taken by the Ripple without any pre-alarming to its community. However, the official website has confirmed it and cleared out the doubts that both xVia and xCurrent will now coexist and work as Ripplenet.
People are unknown about this change as the platform had secretly worked on the changes. It is unveiled after the changes have been done successfully and users come to know after visiting the official site of the ripple. However, one of the executives gives signals about the upcoming innovations of products.
In other words, what was previously called xRapid is now called On demand liquidity, and the abbreviation is ODL. Whether you’re using ODL or prefunding, the remittance messaging part is the same mechanism (platform).
xRapid to On-Demand Liquidity
The xCurrent is a subsidiary product that is developed to assist the traditional banks. The main goal is to secure transactions in fiat currencies across the globe using blockchain technology. The xRapid is another tech product that offers leveraging services to the banks. The banks utilize the XRP to settle payments in cryptocurrency.
Also read:Stephen Reiff, the head of Corporate Strategy at MoneyGram, said:
We’ve leveraged On-Demand Liquidity on RippleNet to dramatically reduce our operational cost and process global payments at unprecedented speeds.”
Criticism
The Ripple has already received criticism from the crypto community. As some experts are saying that the price of XRP is down due to their policies. The allegation is that Ripple is manipulating the price value of XRP.
— Whale Alert (@whale_alert) October 1, 2019
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.