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.
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.
🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 1,000,000,000 #XRP (256,266,369 USD) unlocked from escrow at Ripple Escrow wallet
— Whale Alert (@whale_alert) October 1, 2019
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
