XRP ledger had already overcome one of the greatest issues facing the blockchain industry, Former Ripple executive Matt Hamilton argued.
His comments were made in reference to a hackathon event in which a team claimed to have found a solution to the problem of transaction fees on the Ethereum network.
What irked Hamilton was that he was witnessing a demonstration of a problem solved years ago in 2023.
However, he was quick to add that his comments weren’t meant to minimize the team’s efforts and appreciated the team for their dedication to developing innovative solutions.
First launched in June 2012, the Ledger celebrated 11 years of uninterrupted operation. XRP Ledger Services, which monitors the blockchain’s development, estimated that there are close to 5 million XRP accounts.
Also, XRPL recently closed 80 million ledgers successfully, which is another noteworthy achievement. The ledger index was 80,237,296 as of June.
San Francisco-based blockchain payment firm Ripple, a significant contributor to the ledger recently joined hands with Colombia’s central bank, Banco de la Republica.
This groundbreaking partnership has garnered widespread attention in community circles. Creating a revolutionary Central Bank Digital Currency [CBDC] using the XRP Ledger’s capabilities is the main goal of this collaboration, according to sources.
The relationship between Ripple and Banco Republica is expected to extend until the end of 2023, during which time a focus will be placed on showcasing the speed, scalability, and transparency that are intrinsic benefits of blockchain technology.
XRP Trade In The Past Decade
The CBDC solution developed by XRPL Labs in collaboration with payment firm Ripple has further elevated the blockchain to new levels. The ledger has been used over 70 million times in the last ten years, Edward Farina, Head of Social Adoption stated a few weeks back.
Prior to that, the blockchain marked a huge step forward after successfully conducting a thorough security audit on the Hooks amendment, a vital component that it touted will open the door for an even wider range of services for XRPL users.
This innovation has helped it to become a potent rival to Ethereum. The cutting-edge framework has completed an external security audit in partnership with cyber security company FYEO, TronWeekly reported previously.