It seems that you can roll out crypto tokens on XRP ledger of Ripple and a group of coders are looking to be the first to do it.
For those who are marching back, which can be odd on various levels, there is XRP Ledger’s collaboration with Ripple, a San Francisco-based startup company that tried enormously to keep itself away from cryptocurrency and keep its focus on distributed ledger technology offering to some of the leading financial firms. Another thing, XRP Ledger which is an open-source, isn’t known as a platform.
Though for entrepreneurs’ ethereum has been a preferable blockchain who intends to roll out cryptocurrencies, it seems that a considerable number of token issuers are seeking for more option. The XRP Ledger is turning out to be a smart option for startups such as the Allvor, a Brazil-based company that is emphasized on streamlining digital payments.
According to the white paper of Allvor, Ripple-developed XRP Ledger is the most efficient and best-distributed database technology ever created.
XRP ledger’s unique selling point is the speed; however, with exclusion to this, there are also other factors owing to which they consider Ripple’s distributed ledger as an ideal place for the crypto tokens. Ripple still remains low enthusiastic about the concept. According to a statement, if the company wants to focus by character, it can even avert exotic utilization of its technology owing to its public and open codebase.
A Ripple spokesperson stated that XRP Ledger is decentralized and open source, intentionally made to enable people put together anything they wish to. However, Ripple isn’t concerned in supporting or promoting ICOs on the Ledger.