RippleX calls on developers to submit grant applications to build on the XRP Ledger— inviting innovative solutions for financial inclusion.
RippleX, a subsidiary of Ripple, has recently revealed that it is now accepting grant applications for developers interested in building on the XRP Ledger (XRPL). This announcement was made via the company's official Twitter account.
The Grant Program, which is currently on its sixth wave, was opened on April 25th and will remain open until June 18th. Developers who wish to participate in this program must submit their applications within this timeframe, with a focus on Web3 financial use case projects.
Benefits of building on the XRP Ledger
RippleX has taken the initiative to raise interest in the XRPL, highlighting its decentralized, open-source, and eco-friendly design for financial use cases.
The ledger already contains a multitude of inherent, native features that are immediately accessible. In addition to the platform's security, reliability, and efficiency, RippleX also emphasized its NFT functionality, which can be used to represent tangible assets.
In the same vein, the XRPL offers a reliable architecture to support the development of financial services. This includes the Automatic Market Maker (AMM) protocol, trust lines, and escrow service.
Furthermore, the XRPL boasts an impressive capacity of 1,500 Transactions Per Second (TPS) throughput, with transactions settling within a time frame of 3-5 seconds.
“It supports large scale use cases, processing 2.1B+ transactions without failure or security breach since 2012. This makes it an excellent choice for developers who want to build with confidence on proven technology.”
The Ledger's Consensus Protocol utilizes a federated validation method that relies on validators to check the latest state of the ledger and verify transactions. To confirm a transaction, at least 80% of the 150 validators must agree on its validity.
This method of consensus varies from Proof-of-Stake and Proof-of-Work, as it requires validators to have a certain level of trust among themselves. However, it boasts benefits such as being more efficient in terms of time and energy consumption.
XRPL calls out for new projects
According to RippleX, they have expressed their interest in funding projects that aim to address financial inequality, improve financial efficiency, and present innovative use cases for XRPL.
Wave 6 funding is targeting various project types, such as financial equity/inclusion, regenerative finance, decentralized finance (lending & borrowing, DEX/AMM interfaces and integrations, asset management), data & indexing, payments, e-commerce, merchant tooling and integration, regulatory compliant real-world assets (RWA) tokenization, decentralized compliance & security, interoperability (token bridging, cross-chain messaging, implementing blockchain interoperability protocol/technology with another blockchain), developer tools, oracles, and insurance.
The application process includes two project reviews, the first of which is in June, followed by the next in July. Those shortlisted for the next stage will have a panel interview in August, with winners being announced in September.
If you are interested in applying, you can do so at xrplgrants.org.
#xrp #ripple #projects #Web3 #web3community
Source: cryptoslate
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