Foundation for XRP with million dollar grant from Ripple

With $ 6.5 million in grants from Ripple, Coil and Gatehub, a new organization called the XRP Ledger Foundation has been created.

A Ripple-backed non-profit organization was created on the development of XRP.

The organization, called the XRP Ledger Foundation, is on a mission to accelerate the development and adoption of the decentralized XRP Ledger platform, according to the announcement. The formation received $ 6.5 million in donations from Coil, Ripple and Gatehub for work on XRP Ledger.

The main fields of activity in the organization’s roadmap are summarized as follows:

Improvement and development of XRP Ledger’s infrastructure
Create a general and objective list of criteria for evaluating the performance of validators
Supporting the growing global developer ecosystem to help adopt and use Ledger
Promoting scalable and sustainable practices
Supporting the development of tools and platforms for global financial access

It is also stated that the organization will work with wider communities, including academic institutions and nonprofits, to tackle the ever-changing challenges of fast and cost-effective value transfer.

Commenting on the subject, XRP Ledger Foundation Consultant Bharath Chari said, “This is a very exciting moment for the ecosystem. The Foundation is extremely happy to work with stakeholders in the ecosystem for further innovation and use of XRP Ledger. Decentralized XRP Ledger provides developers with the opportunity to benefit from low cost and fast value transfer in multiple use cases. We are committed to providing full support to growing the developer ecosystem. ” used the expressions.

Ripple’s technology director David Schwartz said, “The names behind the XRP Ledger Foundation have long contributed to the development and success of XRP Ledger. They will now provide resources and support to other parties that build infrastructure and applications for the community through the foundation. He spoke in the form.

Wietse Wind, a renowned XRP developer and board member of the foundation, said they will also connect with schools that are part of the University Blockchain Research Initiative.

Finally, it was reported that an XRP Community Fund will also be established independently of the foundation. It is noted that this fund will focus on events, developer interactions and other activities that encourage the adoption of XRP Ledger.