Ripple's Big Step: Revolutionizing XRP Network Feature Introduced

 

Ripple's Big Step: Revolutionizing XRP Network Feature Introduc

A new development announcement for #XRP has arrived from Ripple developers!

XRP investors encountered the term "IOU" with the #FLR airdrop event to be held by the Flare Network. #IOU means "I own You" actually represents the ownership right of tokens that have not been released yet. The XRP team changed this and announced that it will now be used directly instead of the IOU. As might be expected, this is not the real step the team behind XRP has taken.

🚨XRP Labs Changes IOU System🚨

In the latest post shared by XRPL Labs , it was signaled that IOUs will now be called tokens and that too many new tokens could be produced on the XRP Ledger. Stating that assets, once known as IOUs, are traded on exchanges such as Bitstamp and GateHub, they form a bridge between the fiat world and XRP Ledger, emphasizing that the definition is actually token. The good news of the team was the NFTs that will come with smart contracts.

#NFTs, which entered the crypto money market with the Ethereum ecosystem, are on the agenda of all crypto money investors recently. These collection-oriented tokens, with millions of dollars in purchases, are seen as the new trend of the industry. The XRPL Labs team, on the other hand, stated that with the IOU, the token system, NFTs can now come to the XRP network.

🚨Different From Ethereum Network🚨

The statement admitted that the method may actually be a little different than on the Ethereum network. Despite this, the team stated that this is definitely possible and signaled that someone is already working on this issue. NFTs have attracted the attention of not only the cryptocurrency industry, but also many outside the industry, and they are definitely promising.

Dan Kelly, CEO of the #NonFungible platform, recently made an important NFT announcement. Kelly stated that 2020 is a historic year for NFTs, and the real development will be in 2021. NFT sales increased by 2,800% in 2020. Some products sold at record prices of $ 100 million fueled this interest.

🚨A Key Milestone For XRP🚨

If the XRP network has such a function, it can be very critical for the Ripple price . XRP, which was pegged in place with the tension before the trial and could not go above $ 1, can take important steps with this development. Of course, it is important that this is implemented and not stay with work.