At Ripple our vision is to enable the Internet of Value, a world where money moves as quickly and easily as information does today. This is at the center of everything we do - from building our global payments network for financial institutions, RippleNet, to establishing initiatives to support development and innovation in blockchain, like the University Blockchain Research Initiative (UBRI), and to Xpring.
We launched Xpring over a year ago to invest and partner to grow the XRP developer community. Since then we’ve partnered with over 20 companies and committed over $500M. But through that experience, we discovered that the developer community needs more to bring the Internet of Value to life. We know that payments are hard – the networks are closed and siloed; the protocols are proprietary; and the traditional payment rails are antiquated and slow. However, while blockchain and cryptocurrency can be transformative for payments, building with these technologies is often difficult and creates a barrier to adoption.
Xpring: the open platform for money
Today we are announcing the next chapter for Xpring as a developer platform. Simply put, Xpring is designed to remove the pain of integrating money into apps - whether it’s US dollars, Philippine pesos, XRP, ETH or any currency. Xpring builds on open source, open protocols and open networks making easy for the 23 million developers worldwide to enable payments in their products and services.
Xpring builds on open source, open protocols and open networks making easy for the 23 million developers worldwide to enable payments in their products and services.
Xpring gives developers tools, services and programs to easily build with XRP and Interledger Protocol (ILP). XRP is one of the fastest, cheapest and most liquid methods for settlement. ILP is a standardized payment protocol that bridges the gap between any fiat or digital asset. Together they form a universal, ubiquitous way to move money.
Today, Xpring is offering a new Xpring SDK to easily work with XRP/ILP in any programming language, and a variety of tools for development on XRP and ILP including an XRP Network Explorer, a new XRP Ledger Devnet, and a new Testnet for ILP. These are just the first of many developers tools and services that we plan on building.
Xpring enables any type of payments and we’re particularly excited to see innovation in new use cases such as trading, micropayments for content, and gaming. While bringing money natively to the internet may seem like a subtle shift from where we are today, we believe a new, open infrastructure will not only better solve existing pain points but also introduce entirely new business models that are impossible to predict.
Open Source Projects
In addition to building out our developer platform, we continue to be active contributors to open-source projects by working with and supporting the community and we are excited to be releasing a number of new features to the core XRP Ledger and Interledger projects. This includes support for deletable accounts on XRP Ledger, a new XRP API, a new reference ILP Rust implementation with support for settlement in XRP and ETH, and a new specification for easily writing new settlement engines for ILP.
We also recently published some of our ideas for areas of development for the XRP Ledger, to engage the community in a dialog about how the XRP Ledger can continue to be the best blockchain for payments. The core of the internet runs on open-source software and we think money should work in the same way.
The XRP Community
We know that building a platform that developers love doesn’t happen overnight. As stakeholders and participants in the XRP community, we are committed for the long haul. Only by growing the developer ecosystem around fast and low-cost payments technology will the real power of XRP and ILP will be realized.
To this end, we are excited to welcome some new participants in the XRP developer community:
- Bitpay, a pioneer in processing crypto payment transactions will be adding XRP to their suite of products and wallet. Soon, you can use XRP for everyday purchases and paying bills at thousands of merchants like Microsoft and AT&T.
- BRD Wallet, one of the oldest and most popular cryptocurrency wallets will soon be enabling its users to hold, buy, sell, and send XRP to anyone in the world.
- Anchorage, the new standard for digital asset custody will support XRP for institutional customers.
- Chainalysis, the blockchain analysis company for exchanges, government agencies and financial institutions is adding support for the XRP Ledger to their service.
Today kicks off the first of many updates and iterations that the team will be building in concert with our growing developer community, and we’re excited for what’s to come. We encourage you to take part in the open-source XRP Ledger and Interledger projects and build on Xpring to add money to your apps.