The XRP Ledger appears to be working on a new update to bring offline payments to its platform, marking another development for Ripple Labs and the XRP platform.
This week, XRP Labs announced the new update at a presentation from one of its developers at the Apex Dev Summit in Estonia. The development studio confirmed that the developers’ presentation included a new feature that would bring offline payments to its xProof of Payments (xPOP) solution.
No Internet, No Problem
Thanks to the Proof of Payments solution, XRP developers could integrate offline payments into the XRP Ledger. This means that payments will be possible without an internet connection – a new milestone for convenience on the XRP Ledger.
The new development implies that any device integrated with the xPOP feature can now issue a barcode to allow holders of XRPL-based assets to make payments instantly without being online. The XRP Labs developers believe that this will help add more users to the XRP Ledger while also making XRPL-based assets more available to public members.
XRP would be the primary benefit of this new development. The asset remains the crypto industry’s standards for making cross-border payments, and the ability to make transactions offline will mark another reason to use the asset.
The company explained that the xPOP prototype is an intellectual property of the XRP Ledger Foundation – a nonprofit that coordinates community-driven initiatives from XRP users worldwide. Thus, the product’s source code will only be shared when its public beta version is available on the net.
More Growth for the XRP Ledger and Ripple
Besides xPOP, XRP Labs also announced a new initiative to facilitate mass retail adoption for its blockchain. The initiative will see the introduction of “Lite Accounts” – essentially, special XRP Ledger accounts with lower reserve requirements. These accounts will use less space on the Ledger and improve its scalability.
The addition of Lite Accounts and the xPOP are just the latest developments to the XRP Ledger. Recently, Ripple Labs introduced an initiative to make the blockchain more compatible with non-fungible tokens (NFTs).
In September, Ripple announced a $250 million fund for NFT brands, creators, and marketplaces. The platform said the fund would focus on increasing the adoption of the XRP Ledger by NFT enthusiasts and industry players. Ripple intends to prioritize platforms that are making NFTs more accessible, especially from a user interface and experience perspective.
“We believe NFTs embody the promise of tokenization and represent a tipping point for its embrace by the mainstream. Through the Creator Fund and the XRPL, we’re excited to unleash new utility for NFTs and accelerate the broader shift to tokenization.”
Ripple added that NFT marketplaces and creative agencies would be among the first to access the fund. As expected, all proposed tokens and their use cases would need to be built on the XRP Ledger. Ripple Labs has also been touting the compatibility of its blockchain with these tokens, especially with its ability to enable low-cost, high-speed transactions.
The post Ripple Development Studio, XRP Labs, Promotes Offline Payments for XRPL Assets via Proof of Payments (xPoP) first appeared on BitcoinExchangeGuide.
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