SBI VC announces plans to become a validator on the XRP Ledger.
The crypto exchange plans to achieve XRP validator status by operating XRP nodes.
According to SBI VC, a validator status will allow it to contribute directly to XRP development.
SBI VC, a foremost cryptocurrency exchange operator in Japan, has announced that it will begin operating nodes as a validator on the XRP ledger from May 10, 2024. According to the exchange, they aim to run a stable operation and achieve recognition by the XRP Ledger community.
Furthermore, SBI VC highlighted earning a validator status will enable its inclusion in the list of trusted validators (UNL, Unique Node List) recommended by the XRP Ledger Foundation in the future. The exchange also noted that registering with the UNL will enable it to contribute more directly to the development of the ecosystem, including voting on new features of the XRP Ledger.
It is essential to note that blockchain operators registered with the UNL qualify to contribute directly to the XRP ecosystem development. Hence, SBI VC explained that part of their goal is to be the validator that reflects the voices of the XRP community in Japan.
According to SBI VC, its crypto exchange hosts many XRP holders. Therefore, its validator status achievement and registration with the UNL will enable the effective representation of its customers. The crypto exchange explained that the representation process will involve voting on the XRP development after considering customers’ opinions through surveys.
In addition to customer representation, SBI VC plans to disseminate information and provide education regarding amendments such as new features. The Japanese crypto exchange highlighted that its proposed awareness program will help XRP holders make appropriate and constructive decisions for the ecosystem.
XRP Ledger is a decentralized blockchain solution that started running in 2012. As a blockchain solution, some of XRP Ledger’s goals include achieving fast settlement, low cost, scalability, and carbon neutrality. Many blockchain users consider XRP Ledger the best L1 public chain for business use cases.
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