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Ripple President Hails Landmark Development For XRP Ledger, Here’s Why – Crypto News

Published

2 years ago

February 28, 2024

Dripp

Ripple’s integration with Axelar Network has garnered praise from Ripple executives, which includes President Monica Long and RippleX SVP Markus Infanger. Notably, the partnership was also lauded by the XRP community, as it aims to enhance the XRPL’s capabilities in the blockchain space. In other words, this collaboration signifies a major stride towards enhancing blockchain interoperability, opening new avenues for cross-chain connectivity and functionality.

Ripple President & Other Execs Embraces Axelar Network

Monica Long, Ripple’s President, expressed excitement over the integration of Axelar Network with the XRP Ledger (XRPL). She highlighted the manifold benefits of this integration, including facilitating cross-chain decentralized applications (dApps) on the XRPL, providing liquidity for various assets, and expanding XRPL’s features across multiple blockchains.

On the other hand, Markus Infanger, RippleX SVP, echoed Long’s sentiments, emphasizing the significance of Axelar Foundation’s partnership in enriching XRPL’s capabilities. Notably, he emphasized the shared vision of Ripple and Axelar in creating a seamlessly interconnected blockchain ecosystem, promoting greater interoperability and connectivity.

Meanwhile, Axelar Foundation’s collaboration with Ripple marks a pivotal moment in advancing blockchain interoperability. Through this partnership, as announced by RippleX in a recent blog post, Axelar aims to extend XRPL’s interoperability to over 55 connected blockchains, leveraging its General Message Passing (GMP) feature for enhanced decentralized finance (DeFi) capabilities.

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Strategic Collaboration With Axelar Foundation

Axelar’s security framework, rooted in permissionless proof-of-stake validation and risk-mitigation layers, ensures secure asset transfers across diverse blockchains. By integrating with XRPL, Axelar enhances cross-chain scalability, fostering innovation and accessibility within the blockchain ecosystem.

Meanwhile, Ripple’s Chief Technology Officer, David Schwartz, emphasized the transformative potential of enhanced blockchain interoperability, particularly in driving innovation within DeFi. Besides, he lauded Axelar’s market-leading expertise in integrating diverse consensus mechanisms, enabling seamless user experiences across blockchain networks.

Simultaneously, Georgios Vlachos, co-founder of Axelar Network, underscored the significance of connecting XRPL to Axelar’s network, expanding the realm of Web3 interoperability. He emphasized Axelar’s commitment to fostering a more interconnected blockchain ecosystem, leveraging Ripple’s XRPL to drive multi-chain innovation.

Meanwhile, the integration of Axelar Network with Ripple’s XRPL marks a significant milestone in the evolution of blockchain interoperability. By bridging connections between XRPL and diverse blockchain networks, this collaboration paves the way for enhanced functionality, scalability, and innovation within the blockchain ecosystem.

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