1. BITBILIHome
  2. Article

XRP now accepted for gas on cutting-edge EVM-compatible blockchain

• 50 views

TL;DR Breakdown

  • Root Network aims to solve interoperability challenges between XRP Ledger and the Ethereum Virtual Machine ecosystem.
  • The network will leverage Polkadot’s Substrate technology for seamless integration with EVM.
  • Validators and stakers on Root Network can earn XRP tokens as compensation, bridging XRP and Root Network.

 

Description

The XRP Ledger and blockchains in the Ethereum Virtual Machine (EVM) ecosystem have long-faced interoperability challenges. However, a solution may be on the horizon, as a crypto educator and well-known XRPL enthusiast, Dip Collector, sheds light on Root Network’s ambitious plan to address this issue. Root Network, a forthcoming cross-chain network, aims to leverage Polkadot‘s … Read more

The XRP Ledger and blockchains in the Ethereum Virtual Machine (EVM) ecosystem have long-faced interoperability challenges. However, a solution may be on the horizon, as a crypto educator and well-known XRPL enthusiast, Dip Collector, sheds light on Root Network’s ambitious plan to address this issue.

Root Network, a forthcoming cross-chain network, aims to leverage Polkadot‘s Substrate technology to build a highly advanced blockchain seamlessly integrating with EVM. To support its tokenomics, the network will introduce ROOT, a foundational native asset that will play a vital role in the ecosystem.

In a surprising twist, validators and stakers on the Root Network can earn XRP tokens as compensation for their contributions. This innovative approach aims to bridge the worlds of XRP and Root Network, offering an enticing incentive for participants to engage in the network’s operations actively.

To facilitate smooth transactions and cover gas costs, the network will introduce a dedicated gas token closely aligned with XRP, the beloved cryptocurrency of the XRP army. This integration will enable cryptocurrency holders to seamlessly convert their holdings into XRP, promoting greater accessibility and convenience.

Furthermore, Root Network plans to enhance the liquidity environment of the XRP Ledger by establishing a link to the XRPL DEX (Decentralized Exchange). This strategic move will contribute to a more vibrant and robust trading ecosystem, benefitting users and market participants.

Dip Collector, a prominent figure within the XRP Ledger community, expresses great optimism regarding this new venture. He emphasizes the importance of understanding the significance of Root Network and its potential impact on XRP. The community eagerly awaits the development and implementation of this groundbreaking solution.

Excitingly, the Root Network mainnet beta has gone live, allowing users to explore the platform and experience the Ethereum-to-XRPL non-custodial token bridge firsthand. This milestone represents a significant step towards resolving the long-standing incompatibility issues between the XRP Ledger and other blockchain networks.

Root Network is a promising solution to tackle the interoperability challenges between the XRP Ledger and the Ethereum Virtual Machine ecosystem. With Polkadot’s Substrate technology as its foundation, the network aims to bring seamless compatibility and enhanced tokenomics, while ROOT and XRP provide rewarding opportunities for participants. As the mainnet beta is unveiled, anticipation grows, and the XRP community eagerly awaits the future of this groundbreaking project.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:XRP now accepted for gas on cutting-edge EVM-compatible blockchain

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月20日 05:09
Next 2023年6月20日 08:07

Related articles

  • NatWest implements policy requiring prior notice for cash withdrawals

    TL;DR Breakdown atWest, one of the largest banks in the UK, now requires customers to provide advance notice for cash withdrawals exceeding £2,000, including those from cryptocurrency platforms. Customers may also be subject to questioning and asked to provide documentation for the nature of their intended transactions. Critics raise concerns about excessive scrutiny and doubt the bank’s justifications, suggesting that cryptocurrencies were unfairly blamed for traditional banking failings. Description In a move that has raised eyebrows and fueled skepticism, NatWest, one of the largest banks in the United Kingdom, has introduced a new policy mandating customers to provide advance notice for cash withdrawals exceeding £2,000. The policy applies not only to traditional transactions but also to withdrawals from cryptocurrency platforms. The bank claims that … Read more In a move that has raised eyebrows and fueled skepticism, NatWest, one of the largest banks in the United Kingdom, has introduced a new policy mandating customers to provide advance notice for cash withdrawals exceeding £2,000. The policy applies not only to traditional transactions but also to withdrawals from cryptocurrency platforms. The bank…

    Article 2023年6月20日

  • Gutter Cat Gang hackers steal $765K worth of  NFTs

    TL;DR Breakdown A reported SIM swap attack on the popular Gutter Cat Gang NFT project resulted in the theft of over $765,000 worth of nonfungible tokens (NFTs).  The perpetrators of the attack utilized the compromised accounts to share links to fake “limited edition” Gutter Cat Gang NFT sneaker airdrops where unsuspecting individuals who clicked on these fraudulent links found their hot wallets drained of funds.  The Company’s co-founder @gutterdan_ provided an update on the situation, confirming that they were collaborating with Twitter to regain control of the compromised accounts.  Description A reported SIM swap attack on the popular Gutter Cat Gang NFT project resulted in the theft of over $765,000 worth of nonfungible tokens (NFTs). The breach was initially brought to light by concerned members of the NFT community at approximately 8 pm UTC on July 7. Co-founder of Gutter Cat Gang, @GutterMitch, took to … Read more A reported SIM swap attack on the popular Gutter Cat Gang NFT project resulted in the theft of over $765,000 worth of nonfungible tokens (NFTs). The breach was initially brought to light…

    Article 2023年7月9日

  • Arbitrum’s layer 3 advancements outshine competitors in the blockchain scalability race

    TL;DR Breakdown Arbitrum solidifies its position as the leading Layer 2 scaling solution for Ethereum, outpacing competitors like Polygon and BNBChain. The launch of Arbitrum Orbit empowers developers working on Layer 3 crypto chains, extending Arbitrum’s reach and influence in the market. Layer 3 networks offer even greater scalability and cost reduction by employing a third chain for offloading complex operations. Description Arbitrum, the leading Layer 2 scaling solution for Ethereum, has reaffirmed its dominance in the market with the launch of Arbitrum Orbit, an innovative tool aimed at empowering Layer 3 networks. Notably, rivals Polygon and BNBChain have also made strides by introducing zero-knowledge rollups. With regular developmental enhancements, Arbitrum solidifies its position as the go-to … Read more Arbitrum, the leading Layer 2 scaling solution for Ethereum, has reaffirmed its dominance in the market with the launch of Arbitrum Orbit, an innovative tool aimed at empowering Layer 3 networks. Notably, rivals Polygon and BNBChain have also made strides by introducing zero-knowledge rollups. With regular developmental enhancements, Arbitrum solidifies its position as the go-to scaling solution for Ethereum, outpacing…

    Article 2023年6月24日

  • Copenhagen Fashion Week partners with Drest to leap into the digital realm

    TL;DR Breakdown Copenhagen Fashion Week has teamed up with Drest to launch a mobile-style game. Blending creativity in fashion with mobile gaming. Description Copenhagen Fashion Week, the premier fashion event in Scandinavia is taking a stylish leap into the digital realm by collaborating with the luxury mobile style game, “Drest.” This innovative partnership aims to elevate the Copenhagen fashion week experience by engaging attendees in immersive daily in-game challenges. From Monday to Saturday, August 12, fashion enthusiasts can … Read more Copenhagen Fashion Week, the premier fashion event in Scandinavia is taking a stylish leap into the digital realm by collaborating with the luxury mobile style game, “Drest.” This innovative partnership aims to elevate the Copenhagen fashion week experience by engaging attendees in immersive daily in-game challenges. From Monday to Saturday, August 12, fashion enthusiasts can unleash their creativity and design streetwear outfits for avatars, while basking in the allure of the fashion world. Copenhagen Fashion Week to test attendee’s creativity “Drest” presents an exciting fusion of fashion and gaming, drawing inspiration from the captivating ambiance of runway shows and…

    Article 2023年8月8日

  • Winklevoss twins warn democrats of alienating youth voters with anti-crypto stance

    TL;DR Breakdown Crypto billionaires Cameron and Tyler Winklevoss warn that the Democratic Party’s anti-crypto stance could alienate young voters and cost them the 2024 election. The Winklevoss twins highlight the growing popularity of cryptocurrencies among Millennials and Gen Z, urging Democrats to reconsider their regulatory approach to retain support from this influential demographic. Youth voters, a crucial voting bloc for Democrats, have shown significant engagement with cryptocurrencies, making crypto policy an important factor in their electoral decisions. Renowned crypto billionaires Cameron and Tyler Winklevoss have issued a cautionary message to the Democratic Party, emphasizing the risk of losing crucial youth voters due to their perceived “war on crypto.” The twin brothers, who co-founded the Gemini cryptocurrency exchange, contend that the party’s anti-crypto stance, championed by figures like Senator Elizabeth Warren and SEC Chair Gary Gensler, may lead to significant electoral setbacks in the upcoming 2024 elections. The @SenWarren and @GaryGensler war against crypto is going to alienate an entire generation of would-be Democrats. Winning the youth vote w/ “get out the vote” is key part of Dem playbook. Dems believe…

    Article 2023年6月15日
TOP