Altcoin NewsNEWSXRP News

Ripple’s CTO David Schwartz on the XRP xRapid Private Ledger


As reported in the previous Ripple/XRP cover in EWN, Mercury FX announced via twitter that using XRP on RippleNet they have transferred £3,521.67 or $4,552.41 and saved £79.17 and 31 hours during a cross border transaction [from U.K. to Mexico] as seen in the post below.

Following up, crypto-enthusiasts who put effort to find the transaction on the ledger had no luck. With that many believed that there exists a private ledger which uses XRP for xRapid txn.

So the talk was taken on twitter as David Schwartz was mentioned and questioned about the hidden ledger.


… to the public ledger. For example, you could have an asset issued on both ledgers that’s bridged by the validators of the private ledger who multisign txns for the public ledger. It’s actually a cool use case to cut txn fees and scale.


Ha that is weird you were just thinking about that. Just to be clear for someone I was having a discussion/dispute with there is only one XRP ledger according to the protocol correct?


Yes. The authoritative record of who has what XRP is the XRP Ledger. There are ways that you can use real XRP on the private ledgers but that would require operators of the private ledgers to get XRP from somewhere in order to do the bridging.


According to an article published by The Daily Hodl, Ripple sales director Ross D’Arcy commented that its solutions are designed to make banking transactions as easy and fast as sending an e-mail or any sharing information on the internet:

“3 clicks, 30 seconds, receive a confirmation that the end beneficiary has been paid. So as easy as we can do a voice chat or exchange emails, that’s exactly how we want the payment experience to be.”

“I think Swift’s a really interesting example. Because Swift, if you think about it, kind of crosses the lines sometimes and plays a bit of a political role. We don’t see our customer’s transactions. Our customer’s transactions go over the internet. So Ripple could shut down as a business tomorrow, and our customers could still transact using our software. The same wouldn’t be the case with Swift.”

Alex Tomzack
About author

Alex Tomzack is a crypto-enthusiast and has been fascinated since first hearing about it. Loves technology, writing, culture while being a regular trader and holder of digital assets. Email: [email protected]
Related posts
Wallets and ExchangesXRP News

Ripple Has Now Over 200 Customers Worldwide... But JP Morgan Has No Intentions To Lag Behind

Altcoin News

TRON (TRX) Leading by Gain: Latest for DApps and the Disappearance of the Tron-Casino


TUSD Creator Bets on Stablecoin Adoption and Announces Four New Tokens for Australia, Canada, Hong Kong and Europe


Bitcoin (BTC) Truly Decentralized, Ripple (XRP) and Ethereum (ETH) Are Horrible Projects: Analyst

Leave a Reply