Cryptocurrency exchanges are central to the advancement of the asset class as a whole, and these companies are continually working on improving the services that they offer their clients.
There are several crypto assets in existence, and creating structures that support these digital assets is crucial in pushing the mainstream mass adoption of cryptocurrencies.
Ripple is one of the cryptocurrencies for which payment processing systems have been put in place.
These systems enable users to use the cryptocurrency in several applications, a factor that has held back the asset class from mass adoption.
Ripple has developed a system that allows seamless and faster cross border transfers of funds.
This system has been adopted by several banks and remittance systems companies that seek to move funds from one region to another.
Ripple’s native token, XRP, is the cryptocurrency that is used to facilitate the payments and transfer of funds.
Coinfield creates a validator for XRP
CoinField, a crypto exchange that is making headway in the industry, announced that it has launched a validator for the XRP token.
The validator has already been included in the list of Ripple’s Unique Node List (UNL). These UNLs form a list of validators that a particular platform trusts to not defraud them of the funds that they earn.
A team from CoinField is said to be working on another project that is based on Ripple’s XRP ledger.
The exchange has been working on this project for over half a year to date, and they said that they will release the details of the projects on the 15th of October.
Players in the crypto industry will be eagerly awaiting the announcement of the project CoinField is working on because the exchange has been making some exciting moves of late.
According to CoinField’s CEO, Bob Ras, the new ecosystem they are working on is one of the most complex projects that have been built on the XRP ledger, and it is the best use case that has been developed for the ledger.
He added that they believe that this is a huge step for the crypto industry as a whole, and it will be a significant influence on the mass adoption of the XRP network.
The project is due to be officially announced at the Malta A.I and Blockchain Summit which will be held on the 8th of November.
Ras said that they have a top team of advisors on the project, and they are all popular figures in the crypto world.
He will make the announcement about the name and details of the project very soon and they are confident that it will be a game changer for the industry.